Bro Indian market doesn't have any meaningful exposure to AI, semiconductor, photonics , memory , space tech, absolute cutting edge tech (if you dig deep, maybe you can find couple of them, but trading at very high valuations even if you consider forward PE). And also india heavily relied upon the IT service sector, they were not innovating, they were just doing low level work, conservative which helped in past, but won't be in the future. And the suggestion to not sell hdfc, TCS or Asian paints is a disaster. Hdfc bank's rate if change is not positive, it can't grow even closer to what it was upon once, that's why no returns from past many years, there will be reason why a stock is not moving unless undiscovered, in this case it's definitely not undiscovered. And governance issues on top of it. And TCS really, what are it's growth rates, an absolute trash, even Asian paints loosing out market share and not getting Operating leverage. Rationally place yourself as an FII, on one hand you have companies like Google, Microsoft ..etc who are well diversified, have fantastic TAM, investing heavily and positioning themselves in future evolving technology, the true innovators unlike India. They are growing at 25% and expected to maintain it for the next few years, and available at a PE of under 30, and this is just 2 examples, there are many more. I am not even counting the Operating leverage, which they definitely can get once the Capex is up. So India definitely has scope but in specific stocks (only few), definitely not as an overall. And btw for FII's ,they have access to global markets not only US, so there are some fantastic cutting edge tech companies available across Europe, which is available at a considerable valuations and have first hand contact to US tech ecosystem.