Franklin FTSE India ETF

FLIN

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FLIN: Economy Growing At A Fast Pace And Valuation Becoming Cheaper (Rating Upgrade)

Nearly 40% of India's coal-fired power plants are operating with critically low fuel ​stocks due to a surge in power demand amid ‌hotter-than-usual weather linked to El Niño, government data showed on Monday.

India needs to review some of its financing rules and develop a stronger talent ​pipeline to achieve its ambitious goal of expanding nuclear ‌power capacity to 100 gigawatts (GW) by 2047, officials and industry executives said on Wednesday.

India is likely ​to receive below-average ‌monsoon rains in September after ​precipitation in ​August was 16% below ⁠average, the ​weather department said ​on Monday, raising concerns about farm ​output and ​economic growth in Asia's ‌third-largest ⁠economy.

India, tracked by the iShares MSCI India ETF, underperformed with a -8% return versus EEM's +35% over the past year. The 40+ percentage point performance gap signals investor avoidance, but the underlying reasons challenge surface-level assumptions.

Foreign investors continued pulling money from Asian equities in July, but the headline outflow masks a striking shift underneath: capital moved away from the region's biggest AI winners while selectively returning to markets with less dependence on the semiconductor boom. Investors sold a net $25.48 billion of shares across seven major Asian markets during the month, extending the region's foreign-selling streak to nine months.

India's top information technology companies are expected to report another subdued quarter, as AI-driven pricing pressure, weak client spending, and global geopolitical turmoil continue to weigh on growth, nine brokerages said.

Shares of Indian banks rose more than 1% on Tuesday, making them the top-performing sectoral gainers after the Reserve Bank of India issued detailed guidelines for a concessional foreign exchange swap facility that lenders can use for overseas borrowings. The move forms part of a broader package of measures announced by the central bank to attract foreign capital into the country at a time when India's economy is facing growth and inflation challenges.

Deeply negative sentiment may be setting the stage for a recovery in Indian equities, according to Devina Mehra, Chairperson and MD of First Global. She argues that widespread pessimism and heightened focus on risks historically improve the probability of stronger market returns, while valuations are not as elevated as commonly perceived.

Every few years, the investment community rediscovers the case for international equities. A string of outperformance relative to the S&P 500 generates a wave of allocation recommendations, money flows in, and then — historically, more often than not — U.S. exceptionalism reasserts itself and the rotation reverses.