Business: India-focused ETFs listed on US exchanges saw huge inflows in June
Mumbai: Foreign investors are investing heavily in the Indian stock market. India-focused exchange traded funds (ETFs) listed on the US Exchange have seen a big inflow in the month of June.
A total of $1.08 billion has been invested in iShares MSCI India ETF, Franklin FTSE India ETF and WisdomTree India Earning Fund last month, which shows that foreign investors want to capitalize on the opportunity of the boom in the Indian stock market.
In June, $496 million has been invested in iShares MSCI India ETF, $326 million in Franklin FTSE India ETF and $262 million in WisdomTree India Earning Fund.
The Indian stock market has been booming since the beginning of 2024. During this period, Sensex and Nifty have given a return of about 11 percent to investors. The reason for the boom in the Indian stock market is the accelerating pace of the economy.
India’s GDP grew at a rate of 8.2 percent in the financial year 2023-24 and is currently the fastest growing economy in the world. The Indian economy is projected to grow at a rate of 7.2 percent in the financial year 2024-25. In June, Foreign Portfolio Investment (FPI) has invested Rs 26,565 crore in the stock market, which shows that investors are optimistic about the Indian stock market.
