India leads EM pack in foreign flows, attracts close to $6 billion so far

Investments by FPIs into the Indian markets, so far, this calendar have been higher than other emerging markets (EMs). India attracted close to $6 billion, even as the markets like Taiwan and South Korea recorded outflows. Within the EM space (excluding China due to unavailability of data), Brazil is the second in terms of FPI flows, with inflows of $4.9 billion.

The MSCI India's valuation premium to EM is now at 40 per cent, 3 per cent above the long-term average, according to BofA Securities.

Last month, the Indian markets saw FPI flows in excess of $1.9 billion into India last month.