India ranked second among 15 countries in terms of estimated returns from systematic investment plans (SIPs) over a 30-year period, with an internal rate of return (IRR) of 13.3%, according to a comparison by DSP Mutual Fund.
Brazil topped the list with SIP returns of 14.8%, followed by India at 13.3%, Mexico at 12.3%, Indonesia at 11.1% and the US at 11%. South Korea and Japan recorded returns of 10.8% and 9.9%, respectively.
The comparison, featured in DSP Mutual Fund’s November 2026 edition of its Netra report, examines estimated total-return index (TRI) returns from lump-sum investments against SIP IRRs across 15 equity markets over 30 years. All returns are calculated in local currencies.
SIP returns across countries: How India compares
| Rank | Country | SIP returns (IRR) | Lump-sum returns (CAGR) |
|---|---|---|---|
| 1 | Brazil | 14.8% | 16.4% |
| 2 | India | 13.3% | 13.0% |
| 3 | Mexico | 12.3% | 14.2% |
| 4 | Indonesia | 11.1% | 10.8% |
| 5 | USA | 11.0% | 10.2% |
| 6 | South Korea | 10.8% | 8.9% |
| 7 | Japan | 9.9% | 5.5% |
| 8 | Canada | 9.7% | 9.4% |
| 9 | Australia | 8.4% | 8.9% |
| 10 | UK | 7.2% | 7.0% |
| 11 | Malaysia | 6.7% | 5.3% |
| 12 | France | 6.6% | 7.6% |
| 13 | Philippines | 6.6% | 4.8% |
| 14 | Hong Kong (China) | 6.1% | 6.1% |
| 15 | China (Mainland) | 5.8% | 7.1% |
Source: DSP Mutual Fund. Returns are estimated; all figures are in local currencies. SIP returns are measured using IRR and lump-sum returns using CAGR.
India’s estimated SIP return of 13.3% was marginally higher than its lump-sum return of 13%, a difference of 0.3 percentage point. Among the markets compared, Japan recorded the widest gap in favour of SIPs, with returns of 9.9% against 5.5% for lump-sum investments.
However, lump-sum investments delivered higher returns than SIPs in several markets, including Brazil, Mexico, Australia, France and mainland China.
What does the report say about India’s equity market?
Separately, DSP’s report highlights the consistency of India’s corporate earnings growth. Between 2010 and 2025, Indian companies recorded annualised earnings-per-share (EPS) growth of 9.1%, with earnings declining in only three of the 16 years considered.
The report also found that 28% of Indian companies delivered a 10-year average return on equity (ROE) of more than 20%, the second-highest proportion among the markets studied, after the US.
(Note: SIP IRR and lump-sum CAGR are different measures of returns and should not be treated as directly equivalent. The historical estimates do not indicate or guarantee future returns.)
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