When you look at the relative valuations, India in relation to Asia ex-Japan, that argument becomes even more egregious. India is on a forward PE basis trading at about 62% premium to Asia ex-Japan. The long-term average is 38%. On price to book it is between 80% to 90% premium.
FPIs open March with largest daily pullout in 4 months
Foreign investors pulled out a significant $751.4 million from Indian equities on March 2, ending a strong February inflow. This reversal, driven by escalating Middle