FIIs outflow from Indian markets is a course correction; to end soon, Dinshaw Irani of Helios India tells Anil Singhvi

Foreign Institutional Investors' (FIIs) pulling investments out from the Indian markets is not likely to last for more than a quarter, Dinshaw Irani, Chief Executive Officer (CEO) at Helios India tells Zee Business Managing Editor Anil Singhvi. He said that there is a course correction from them as most of the money that come into the emerging markets, last year, flew into the Indian markets.

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A significant outflow from the Indian markets has already taken place unlike other emerging markets, he further said.

The inflow will come, going forward, he said. 

'बजट के बाद,बाजार की बात'

#FIIs की बिकवाली एक और तिमाही तक संभव,बाजार के लिए बजट मिलाजुला रहा:दिनशॉ ईरानी,CEO,हेलियस इंडिया

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This year will be steady year he said adding that the market growth is expected to be 2-3 per cent above the nominal Gross Domestic Growth (GDP) of India. The growth will not be like the last 2 years, he cautioned.

His advise to investors is to be picky on themes while looking for opportunities in the domestic markets.

Irani also lauded the Budget 2022 on several counts. He said that he expected no tinkering in the tax rate from the Budget 2022 and a progressive strategy for the PLI scheme. The announcements regarding all these have met his expectations.

The government has sent a message to the markets, its participants that they are going to stick with the Capex and so will not focus much on the deficit, he further added. Also, they have pushed it to  a certain extent towards the state governments, the CEO pointed out.

As the Monetary Policy Committee (MPC) are scheduled tomorrow, he expects a hawkish stance from the Indian Central Bank. He said that any major tinkering in interest rates is unlikely to happen.