The ratio of market value of foreign portfolio investor (FPI) holdings to their cumulative investments in Indian markets is 3x — down from 3.4x in 2021-22 (FY22), but up sharply from a trough level of 1.8x in 2012-13.
According to an analysis by Motilal Oswal, FPIs have made a cumulative investment of $191 billion in domestically-listed companies over the past three decades. Their value of holdings is currently at $578 billion. At the peak, the value of their holdings had climbed to $677 billion in FY22.
Between 2011-12 and FY22, the market value of FPI holdings had