Indian Prime Minister Narendra Modi’s recent trip to the US has paved the way for a prosperous partnership between the two countries and propelled the Indian stock market and its buzzing economy, Bloomberg reports. Indian stocks have lured almost $10 billion in foreign capital inflows since March 2023. Rupee-denominated bonds are about to witness the longest streak of purchases by overseas funds in almost four years. Today, the rupee is offering one of the highest returns in Asia in 2032. During his visit to the US, Modi met Tesla and SpaceX CEO Elon Musk and Bridgewater Associates founder Ray Dalio. The official stressed the high economic potential of the country to corporate leaders and future investors. Elon Musk has repeatedly said he would like to invest in the Indian economy and he confirmed his plans once again after the meeting. Also, the Prime Minister urged Ray Dalio to deepen investment in the country. What is more, Modi is on track to sign an agreement with General Electric Co. and Hindustan Aeronautics to produce engines for India’s fighter jets. Economists believe these meetings can serve as a strong boost for the Indian economy thanks to increased capital inflows and a boom in retail investments. This year, India’s NIFTY 50 has hit a record high after gaining 9%.
