Mumbai (Maharashtra) [India], October 16 (ANI): Foreign portfolio investors (FPIs) will eventually return as net buyers of Indian equities despite sustained selling in recent months, as the country's long-term economic fundamentals remain strong, HDFC Asset Management Company Managing Director and CEO Navneet Munot said on Friday.

His remarks come amid continued foreign investor withdrawals from Indian equities, driven by elevated global interest rates, high crude oil prices and concerns over emerging market investments.

Speaking on the sidelines of the listing of the HDFC FTSE India Equity ETF at the National Stock Exchange (NSE) in Mumbai, Munot said foreign investors continued to show interest in select investment opportunities, including initial public offerings (IPOs), even as overall flows remained negative.

'We have seen FPI outflows over the last several quarters. But you can also see their interest in several of the IPOs, where foreign portfolio investors have participated. In between, there were times when foreign portfolio investors were investing,' Munot said.

'India's long-term fundamentals remain intact, and I remain confident that at some stage, FPIs will be net buyers again,' he added.

Foreign investors had withdrawn Rs 44,166 crore from Indian equities in October up to October 11, taking their total outflows in 2026 to more than Rs 3 lakh crore, according to NSDL data.

The continued selling has weighed on market sentiment even as domestic institutional investors have remained an important source of support for Indian equities.

Meanwhile, HDFC Mutual Fund listed its FTSE India Equity ETF on the NSE on Friday, expanding its range of passive investment products.

The exchange-traded fund tracks the FTSE India Equity Index, which provides diversified exposure to large- and mid-cap Indian stocks.

'Their index comprises 272 stocks - it's a very diversified index. We will be giving an opportunity to domestic investors to participate in an index which has been provided by a globally recognized index provider. Over a period of time, we can also showcase this strategy to global investors,' Munot said.

The ETF aims to provide investors with exposure to a broad segment of India's listed equity market through a single investment product. (ANI)