Investing minus value to debt plus investing

so, is the value investing a "in-thing" in the Indian markets when the so called SENSEX is at frenzy and really touching new highs each day..so what would Oracle of Omaha consider during this " ERA of nerdness". Is it an viable option to forget all value investing in this hyped markets and not to forget our very own "India story". We, the people are so excited to see the sopisticated statistical prophecy of >8.5% growth in the GDP levels. But I am thoroughly dejected when the recent numbers showed a positive growth signs of 9.2% sequential growth. Believe me..its better to eliminate value from investing and start just investing in the so forgotten the risk free debt market which is also able to yield the same returns as the GDP levels..

Any say..please post
Thanks
Rathin