Foreign portfolio investors are unlikely to return to Indian markets anytime soon, as global valuations appear far more attractive elsewhere. According to market views, liquidity challenges—especially in mid- and small-cap stocks—make exits difficult during market corrections, discouraging foreign participation. Meanwhile, global markets remain in a strong bull phase, with Asia, particularly China, offering compelling opportunities for institutional investors with a global mandate. Despite this, India continues to see strong domestic support through SIP inflows of nearly ₹30,000 crore every month. If corporate earnings justify these inflows, the market could remain stable over the next two to three quarters. However, the long-term India growth story is not guaranteed and should not be taken for granted.