(Bloomberg) A record stock-market valuation and surging foreign inflows make for a great backdrop as Prime Minister Narendra Modi looks to tout India’s growing prominence to world leaders at this weekend’s Group of 20 summit in New Delhi.Most Read from BloombergEverything Apple Plans to Show on Sept. 12: iPhone 15, Watches, AirPodsBoss of Failed Crypto Exchange Gets 11,000-Year SentenceUS Probes Made-in-China Chip as Tensions Flare Over TechnologyHong Kong to Ease Shutdown After Record Rain O
Indias stock market hit an all-time high valuation of $3.8 trillion this week, a perfectly timed billboard for Modi as the G-20 summit gives him another opportunity to showcase the nations potential as a geopolitical juggernaut. With the West looking to curb Chinas influence, Modi has rolled out a mix of tariffs and incentives to lure companies to make in India and firms including Apple Inc. and Samsung Electronics Co. are among those expanding production in the nation.
A record stock-market valuation and surging foreign inflows make for a great backdrop as Prime Minister Narendra Modi looks to tout India's growing prominence to world leaders at this weekend's Group of 20 summit in New Delhi.
Foreign investors have bought more than $16 billion worth of Indian stocks on a net basis so far in 2023 - set to be the biggest inflow in three years. In addition, the nation stood out in August, when overseas funds sold shares in almost every other Asian emerging market amid a global selloff