NRI Talk| For a Rs 50 crore NRI portfolio, structure matters as much as stock selection: Tarun Birani

An NRI-focused portfolio advisory piece from TBNG Capital's Tarun Birani argues structural factors make India a compelling long-term bet despite flattish Nifty returns near 24,000 since mid-2024. Key data points: FIIs pulled out a record 1.18 lakh crore rupees in March 2026 but DIIs absorbed 1.16 lakh crore, DII ownership at 18.9 percent now exceeds FII ownership at 14.7 percent, and 31,000 crore rupees of monthly SIP money has flowed in for 53 consecutive months. India is growing at 7.4–7.7 percent in real terms with forex reserves near 688 billion dollars, government capex rising from 124 billion (FY14) to 1,898 billion rupees (FY26), and NSE 500 ex-financials ROE at around 15 percent versus a prior cycle peak of 22 percent, suggesting room for re-rating.