India is facing several local and global headwinds, with FPIs continuously selling shares. What are your thoughts on the market scenario?
In India, we have had the RBI, which has had to hike rates, but this is a phenomenon across EMs, whether it is Turkey, Brazil or Indonesia. These markets have sold off much more than India.
The worries on India started picking up not just from the US rate hike cycle but also when oil started spiking up. India is still seen as a preferred long-term destination.
Most global investors are still structurally positive on India. The extent of the overweight has come down versus last year partly given oil prices, partly due to the rate hikes by the US Fed and the political risk perception in the minds of some. Read More