India's growth Story, not AI trade reversal, will drive foreign flows: Sameer Dalal

Fund manager Sameer Dalal believes India's domestic growth story, rather than any reversal in the global AI trade, will drive foreign portfolio flows back into Indian equities. He cited lower crude prices, improving monsoon progress, and an expected earnings recovery in FY28 as supportive factors, while describing the recent AI stock correction as valuation-driven and not structural. He remains bullish on the Indian pharma sector's US market opportunity and on Tata Motors, calling current valuations attractive and believing its guidance targets remain achievable despite concerns around JLR margins.