Source: Live Mint.com, Feb 27, 2018
Mumbai: The government plans to cut red tape and ease rules for foreign portfolio investors (FPI), as it seeks to attract more investments into Asia’s third-largest economy, three people with direct knowledge of the matter said.
As part of the plan, the government will reduce the time required for FPIs to register in India, introduce a single-window clearance for them and allow foreign banks to trade on behalf of their clients without registering, the people said, requesting anonymity.The steps come at a time when Indian exchanges have decided to stop sharing market data feeds with overseas exchanges to prevent a flight of liquidity from the country. That decision has been criticized by market participants, including index provider MSCI, which termed it anti-competitive and protectionist. Foreign investors pointed out that such moves should be accompanied by removing barriers for global investors.