“India does not really need FII money to come back in a big way. What we need is a lack of selling.” He highlighted the scale of outflows witnessed in recent months. “What we saw in March was very heavy selling, around USD 15 billion. April, May and June saw another USD 4-5 billion of monthly selling. This is unprecedented.” If those outflows moderate, domestic investors can continue supporting the market, he noted that, “Domestic money can do the heavy lifting.”
