For the next 10 years, one will make more money in emerging markets than in the US. By historical standards, the US markets are extremely expensive and there is hardly any earnings growth.
In the last five years, we have seen an enormous inflow into ETF (exchange traded funds) and index funds and that has boosted large market capitalisation stocks in all markets, including India. The larger companies are relatively expensive in India. On the other hand, you have a lot of smaller companies that have been overlooked and neglected.