When the familiar engines of wealth slow their turning, those with the most to protect begin searching for new terrain. India's ultra-wealthy are doing precisely that — moving quietly but deliberately from the well-lit corridors of listed equities into the less charted spaces of private markets, private credit, and overseas assets. The Nifty's muted returns over recent years have not triggered panic, but they have triggered imagination, prompting a generation of sophisticated investors to ask whether a single national stock market is still sufficient architecture for serious wealth. The answer