Uday Kotak says $700 bn outstanding FII payments will boost market, sees AI worries driving flows to India

After strong headwinds wiped out massive sums of investor wealth since Diwali last year, veteran banker Uday Kotak shared his advice, advocating for value investing and expressing his confidence in the Indian market ahead of the beginning of the new Hindu financial year, Samvat 2083.

In his Diwali message shared by Kotak Neo, Uday Kotak noted that the year gone by reflects fast-changing moves in the global economy and financial markets, both globally and domestically. “It was a year of geopolitics, AI, gold, oil, interest rates and fast-changing political environment in many parts of the world,” he said.