FIIs were selling a year back and they wanted to influence the Indian markets. They benefitted a lot from creating volatility in India in the past. However, the strong force and fund management of domestic institutions, mutual funds, and industrialists have helped in countering FIIs really well. The Indian retail investor’s appetite for equity and strong institutional framework in the fund management industry has helped domestic investors chip in when FIIs are selling out. FIIs have no longer remained a decisive force in the Indian markets. If more domestic money flows into the markets in the next ten years, FIIs will be a very small part of the overall markets. Our markets should move based on the Indian local investors and should not get too influenced or perturbed by FII flows. India is now getting financially ‘independent’.

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