Awaiting genuine economic reforms: Why foreign investors are still selling

Policy measures taken to counter the slowdown are not enough

Selling of Indian equities by foreign investors continues unabated. We see a net negative figure between $100 and $200 million on a daily basis. India continues to underperform global markets, most of which, unlike India, are solidly in positive territory in terms of performance for the year. 

The macro picture for India remains benign. Oil prices seem anchored in a range of $60-70 per barrel. Nearly $17 trillion of debt globally is yielding negative interest rates. Any country able to deliver strong growth and have a positive carry should be able to attract disproportionate capital. Central banks around the world