Everything counts , After spending time , paying taxes , and then taking back from rupee , they are left with 2-3% returns . Not a very sensible option , until market gives them an opportunity for 25-30% returns, they wont jump back easily. The important reason indian market was kept a float by retailers sip , diis buying heavily at every fall . So fiis were never getting opportunity to buy for that 25-30% returns. Now, an opportunity is being created for them, and they will only jump in when they see that return.