FPIs Leaving Indian Markets

Raamdeo Agrawal, Chairman of Motilal Oswal Financial Services feels that the Indian equity market has lost a number of foreign portfolio investors (FPIs) over the past two years for various reasons. Speaking to news agency ANI today, Agrawal said Indian equity valuations have been impacted by withdrawal of FPIs, adding “it was because of many reasons — domestic valuation, other markets doing very well, artificial intelligence (AI) story not happening in India”. He further noted, "Geopolitical situation has put pressure on India's forex situation because of high oil prices… we are seeing a reversal of trend where FPIs are actually looking at India more favourably...”