FIIs return to India: Early signs of a real recovery finally here: Gautam Chhaochharia, UBS

India is witnessing early signs of a real economic and market recovery, says UBS. Global investorsabsent for nearly five yearsare re-engaging as corporate commentary strengthens and earnings show initial improvement. While valuations remain rich, optimism is rising across financials, consumption, defence, power and quick commerce. UBS expects credit growth, easing policy, and selective sector catalysts to drive the next market upcycle.