FPIs' India assets cross $800 bn after four months

Indian equities held by overseas investors crossed the $800 billion mark for the first time in four months, driven by renewed inflows and a rise in the value of their holdings as global trade worries ease.

- Ram Sahgal

MUMBAI:

Foreign portfolio investors' (FPI) assets rose to $811 billion as of April 30, up from $773 billion on April 15, according to data from the National Securities Depository Ltd (NSDL).

The surge came as FPIs turned net buyers of Indian equities for the first time in six-and-a-half months. The rally was supported by a weaker dollar and optimism around the Indian economy's potential to outperform amid signs of the US nearing trade deals with India and other key partners.