India's large caps stuck in 'bygone economic era', says Bernstein, as foreign investors head for the exit

Bernstein said foreign investors had little reason to invest in India as large businesses were struggling to reinvent themselves. The brokerage did not specify which sectors or companies it was assessing or provide financial data to support the claim. Foreign investor outflows from Indian equities have occurred in recent months, though Bernstein did not quantify the total amount or timeline of those withdrawals.

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