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

TBNG Capital CEO Tarun Birani argues that despite Nifty trading sideways near 24,000 since mid-2024 and a 10-11% rupee depreciation to about 95 per dollar, India's market structure has fundamentally strengthened. A record FII outflow of Rs 1.18 lakh crore in March 2026 was nearly fully absorbed by domestic institutions at Rs 1.16 lakh crore, with DII ownership now at 18.9% versus FPI's 14.7%. He cites India's 7.4-7.7% real GDP growth, 16.4% bank Tier-1 capital adequacy, USD 688 billion in forex reserves, and Rs 31,000 crore in monthly SIP inflows sustained over 53 months as the structural case for long-term NRI allocation.