According to CNBC, JPMorgan strategist Rajiv Batra said foreign investors returning to Indian equities could generate around $115 billion in net inflows if long-only investors reversed an underweight position that has lasted nearly two years. Batra described India as a potential hedge for portfolios reducing exposure to crowded AI trades. The Nifty 50 gained nearly 9% over the last month, while foreign investors turned net buyers over the past four days, investing more than $2.3 billion after net sales of more than $31 billion until October of this year, according to NSDL data. Bernstein disputed the view that India is an AI hedge, citing its valuation: the country traded at a 12-month forward price-to-earnings ratio of 18.6, compared with 9.3 for China and 7.9 for Brazil.