“Apart from supporting markets, this will not only be the largest ever investment by LIC but also may help it in maximizing returns for policyholders and profits for shareholders but also may work as a vital support system for Indian markets in FY2024," one of the two people said, requesting anonymity.
“Around 35% of the total investment or ₹80,000 crore - ₹85,000 crore could be allocated in shares of listed companies in India in the fiscal year 2024," the person added.
LIC’s record investment plan comes at a time when foreign investors are pulling out of most emerging markets, including India, because of risk-off sentiment.
Emerging markets assets are sensitive to US monetary policy changes as higher interest rates make riskier assets less attractive to investors. They also lead to a stronger dollar, making it dearer for emerging nations to import goods and service debts.
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