India has retrospectively eased the eligibility criteria for investment funds set up by FPIs.
India has retrospectively eased eligibility criteria for investment funds set up by foreign portfolio investors (FPIs) such as sovereign funds, pension funds and regulated entities, including offshore banks, to avail tax benefits.
These funds are exempt from conditions of having a minimum of 25 members, with none having more than 10 percent participation interest and the aggregate participation interest of 10 members not exceeding 50 percent.
Will this move give a necessary push in propelling India to become a favourable investment destination? Moneycontrol's Sakshi Batra decodes the new eligibility norms for investments funds by FPIs.First Published on Jul 2, 2020 06:46 pm