Is it good to invest (say SIPs for MFs, Stocks, etc) in India or the US?
Very difficult to answer. Over the last 10 years, it is the US that has given good returns. If you are asking over the next 5, 10, or 20 years it is anybody’s guess. I would put my money – about 70% in the USA and 30% in India. Or I would put it in a World Index fund.

Have heard that instruments in India give higher returns compared to the US and one of the reasons why Foreign Institutional investors eye Indian market – Your perspective, please.

The World Index has 40% in the USA and 2% in India. I guess that answers your question. We should invest in both markets, but the US $ is really strong as of now. I do not agree with the valuation, but that is a fact. I would rather put a SIP in the Vanguard World Index fund. Please remember the US Income tax provisions are difficult, remember to be alert to that.

Given the Corona pandemic all over the world, where stock markets are going down drastically, Is it wise to enter into investment in equities or better to hold on to your little money in the Bank savings account

Learn to live with the Corona Virus. This problem will be solved in 3 months or 3 years. None of us know when. Normally investing during such times gives us good results in the longer run. So if you have a 5+ years view, go and start a SIP today. The market knows more than we do.