FIIs positive on India, see more upside: JP Morgan AMC

In an interview to CNBC-TV18, he said, "I think it is a very positive sign that some movement by the government in what is interpreted as a market friendly direction. I think that India is moving in the right direction and I think equity mkt investors, particularly foreign investors will continue to react positively."

Titherington is fully invested in the market as he sees more upside.

Continuing his optimistic stance, Titherington is expecting 2013 to be a better year for emerging markets (EM) equities. He also sees China and Russia to lead the recovery in 2013.

At the same time, he adds that investors in Europe are fairly cautious about the growth.

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Below is the edited transcript of his interview with CNBC-TV18's Udayan Mukherjee and Sonia Shenoy.

Q: What is your view on India after observing the policy announcements that has come through over the last 3-4 weeks?

A: I think the outlook for Indian market depends on whether the government is able to stick to some of the reforms that they have announced recently. It is a positive sign that some movement by the government in what is interpreted as a market friendly direction saw a pretty vigorous positive reaction from the markets. I think India is moving in the right direction and equity market investors, particularly foreign investors will continue to react positively.