Raamdeo Agrawal, Chairman and Co-founder of Motilal Oswal Financial Services Ltd, expressed optimism about the return of foreign institutional investors (FIIs) to Indian markets. He predicted that the Nifty index could reach 30,000 when FIIs return.

Agrawal acknowledged the current slowdown in India Inc's earnings but believed it to be a temporary issue. He suggested that earnings could rebound in about six months with the right fiscal or monetary support. Agrawal noted that FIIs have been selling off their investments in India for the past 6-7 weeks due to attractive opportunities in the US and China. He advised investors to remain patient and stay invested despite the current market challenges.

Agrawal also highlighted that when foreign investors return, they may not find the same competitive prices, indicating potential for significant market movement in the future.