Resilient Markets: Understanding FII's Profit Booking in India

Finance Minister Nirmala Sitharaman attributes recent FII sell-off of Indian equities to profit booking during better returns. Despite Rs 1.56 lakh crore stock sale since October, Indian markets remain resilient amidst global uncertainties. India's growth prospects and reforms aim to attract foreign investors.

Finance Minister Nirmala Sitharaman addressed concerns over recent foreign institutional investor (FII) sales of Indian equities, attributing the action to profit booking. She reiterated that the Indian economy is delivering better returns, encouraging investors to capitalize on their gains.

Despite FIIs selling over Rs 1.56 lakh crore in stocks since October, Indian markets show resilience. Finance Secretary Tuhin Kanta Pandey stressed that FIIs are not shifting between emerging markets but returning to their countries of origin amid global uncertainties.

Ajay Seth, Secretary of the Department of Economic Affairs, dismissed potential government intervention in market fluctuations, highlighting the market's independence from government policies. India is working on being more investor-friendly, with recent budget measures supporting local industry and jobs.

(With inputs from agencies.)