Flight to safety and quality has been investment mantra: IIFL's Nirmal Jain

Foreign portfolio investors, remain 'neutral' on India and that does not expect any material change in their flows for now, says the IIFL chairman

As the markets usher in Samvat 2076 with a hope that the economy will turn for the better and corporate earnings will improve, NIRMAL JAIN, chairman, IIFL, tells Puneet Wadhwa that picking right stocks and sectors will be important. Foreign portfolio investors (FPIs), he says, remain ‘neutral’ on India and that he does not expect any material change in their flows for now. Edited excerpts:

What’s your interpretation of how the markets and economy have shaped up in the past one year?

Flight to safety and quality has been the investment mantra in the past year. This is understandable given the slowdown