Tsunami of capital from global investors lies in store for India in 2024: ETF expert

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Indian economy, banking sector showed resilience: SBI chairman Khara Carter’s INQQ ETF's top holding is Mukesh Ambani-led Reliance Industries, the conglomerate behind the affordable smartphone boom. “No other country on the planet has anything like this in terms of a digital foundation for their entire economy," Carter told cnbc.com.

Cumulatively, the past 12 months have been stellar for investors who parked their money in Indian stocks. Though there has been some turbulence, first during the Adani-Hindenburg episode and lately during the initial days of the Israel-Hamas war, the calendar year 2023 gave handsome monetary dividends to stock market investors.

By far in 2023, Sensex and Nifty gained 16-17%, on a cumulative basis. They gained a mere 3% each in the same period of 2022.

India’s economy shows mixed report card for November: Mint tracker Firm GDP growth forecast, inflation at manageable levels, political stability at the central government level, and signs that the central banks world over are done with their monetary policy tightening have painted a bright picture for India - which many agencies have termed to be the fastest-growing major economy. 'Indian stock market outperforms the global market, makes for attractive investment' The strong inflow of funds from foreign portfolio investors (FPIs) lately also supported the stocks to march towards all-time highs.

Notably, foreign portfolio investors have again trained their sight towards India, becoming net buyers in the country's stock market. Following a cumulative accumulation of ₹9,001 crore in November, they have again made a beeline to invest in Indian stock markets, with ₹57,313 crore invested so far in December, data from the National Securities