Reason of FII’s Selling In last 5 years :- - Nifty 50 has given 93% returns - INR has depreciated to USD by 37% - So dollar adjusted returns= 56% - Adjust for GST, STT, Capital Gains etc= 47-48% CAGR is abysmal. Now here is the interesting part: RBI over the last 2 years -- had been selling its FOREX reserves to save INR. Now, looks like this war is lost. This is the #1 reason why FIIs are leaving the Indian markets. There is just not enough returns for them to stay interested.