Fiis See India As Defensive Bet

In a sudden shift of strategy, foreign institutional investors (FIIs) are eyeing India as a strong defensive bet and positioning their investments here to hedge against high-risk markets in Asia like South Korea and Taiwan.

Investors battered in Chinese secondary markets are increasingly preferring India as a defensive bet.

Having registered a marginal gain as against huge losses suffered by major Asian markets in 2002, Indian stock markets have secured the tag of being the best defensive bet.

While the sensex gained 2 per cent during 2002, South Korea