"Clearly, India seems to be enjoying the TINA (there is no alternative) factor, as globally all countries are facing the churn and India seems to be the best-placed jurisdiction in terms of growth and inflation outlook in FY23," the report noted.

Underlining the enthusiasm towards India by foreign companies, the report offered examples of India's equity and currency markets, which recovered after initially having reacted adversely to US Federal Reserve chairman Jerome Powell's comments reaffirming the Fed’s commitment to frontload rate hikes by central banks to recoup some of the losses in subsequent trades.

Portfolio inflows turned positive even though they were marginal at $30 million on August 29, the report said. The overall portfolio inflows since July 29 is now $7.6 billion compared to an outflow of $14.7 billion in 2022-23 prior to July 29, it added.

Fibre2Fashion News Desk (DS)