India was the third bestperforming market among Brics nations after China and Brazil in the four years of the Narendra Modi government.
The BSE Sensex rose at a compounded annual rate of 9.94 per cent since May 2014 compared with Brazils 10.33 per cent and Chinas 11.60 per cent, data analysed by ETIG shows.
India also performed much better than the UK, Germany and France, lagging behind only the US and Japan during the period.
Nifty rose at an annual compounded rate of 10.46 per cent compared with Japans 11.94 per cent the US 10.81 per cent.UPA NDASensex and Nifty performed much better during UPA-I administration headed by Manmohan Singh thanks to a global equity boom, surging foreign fund inflows, and high earnings and economic growth.
During NDA-II, markets were primarily driven by surging equity inflows from domestic investors.
Since May 2014, equity MFs have pumped 3.24 lakh crore into Indian shares, dwarfing FPIs, who purchased equities worth 1.46 lakh crore.