The good news is that the Indian market has attracted net inflow from foreign investors for six months in a row with quarterly inflow of nearly $8 billion. Strong corporate earnings and overall good news from the latest Union budget along with strong macro numbers contributes to positive flow.

India has been hit hard by the covid vs neighboring countries and recent numbers indicate 350,000 or more of daily positives. This means it may take longer than expected to return to a pre-covid life given the fears of new aggressive mutations. Let us not forget that 86% of the population is age 54 or younger.
For now, monetary and fiscal policy remains supportive, net inflow from foreigners and strong PMI numbers means a post-covid rebound can be strong.

Domicile: Malta
Source: Bloomberg LP, Unifi, IAF, ICF