India's Foreign Flow Setup Improves, But Awaiting Trigger: Geoffrey Dennis

• Geoffrey Dennis notes improving conditions for foreign flows to India, despite investors not yet focusing on it.
• Factors like softer China momentum, lower oil prices, and steady domestic growth are setting the stage for India.
• India benefits from lower crude prices, improving macro stability and allowing for supportive policy.
• Dennis sees AI equities as not a bubble, but expects more volatility and uneven returns, not a repeat of past rallies.
• He warns about unusual cross-holdings within the AI ecosystem, potentially leading to uneven returns.