Uday Kotak Decodes Rupee Slump, Global FII Outflows & India's Big Wake-Up Call | BNEF 2026

Should India let the rupee find its own level? Kotak Mahindra Bank founder and director Uday Kotak believes the currency should be allowed to discover its fair value over time, as the underlying strength of the Indian economy plays out. Speaking at the Bloomberg New Economy Forum, Kotak points to an unusual concentration of global investments in just seven to ten stocks, which he says shaped portfolio flows and added to India’s external pressures. He views the current phase as a transition, suggesting investors may eventually reassess returns on capital. But his message to India goes beyond currency management: the country must become more competitive, efficient and self-reliant, while strengthening research and innovation. Watch his full perspective on India’s economic challenges.