Fund-manager Alok Agarwal of Alchemy Capital says foreign institutional investor (FII) sentiment toward India is showing signs of revival. He notes that the macro backdrop is strengthening, with inflation under control and global uncertainties easing. According to him, the “wall of worry” facing Indian markets has shrunk to a “low fence”, signalling the potential for renewed portfolio flows. While he cautions that short-term consolidation may happen, he believes the shift from “pause” to “play” is underway for Indian equities. The commentary might bolster investor confidence in the near-term outlook.