In March 2020, foreign investors pulled out a record Rs.1182 billion (US$16 bn) from the Indian financial markets as the spread of coronavirus (COVID-19) pandemic triggered panic selling across all emerging markets. As per official data released by the National Securities Depository Limited (NSDL), foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) together pulled out Rs.619 bn ($8.3 bn) from the equity segment and Rs.603 bn ($8.1 bn) from the debt segment in March. The capital outflows from the Indian markets in March alone were larger than the outflows witnessed during the entire year of 2008 – when the global financial crisis erupted – and during the 2013 “taper tantrum.”
— source madhyam.org.in | Apr 3, 2020