India should scrap equity tax on foreign investors, says Edelweiss chief
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Edelweiss chief Rashesh Shah said India should remove capital gains tax on foreign investors to help revive the stock market.
- ✓"We need to showcase to the foreigners we want them," Shah said on Friday.
- ✓Many investors sold stocks this year, but recent inflows showed a rebound in the local market.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Business Standard
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Edelweiss Financial Services Ltd. Chairman and Managing Director Rashesh Shah | Image Credit: Bloomberg
By Divya Patil and Samie Modak
India should consider removing the capital gains tax imposed on foreigners to help revive the country's stock market, Edelweiss Financial Services Ltd. Chairman and Managing Director Rashesh Shah said, adding to a growing clamor for the exemption to boost inflows and support the local currency.
"We need to showcase to the foreigners we want them," Shah said in an interview with Bloomberg Television's Menaka Doshi and Haslinda Amin in Mumbai on Friday. "If India wants foreign investors to come back, we want India to be a good permanent allocation for foreigners, we should do something and removing capital gains tax for foreigners might be an easier answer."
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
Business Standard
Read the full, original unfiltered story directly on the publisher's portal.
This brief is for information only and is not investment advice. ArthNow is not a SEBI-registered investment adviser and does not publish buy or sell recommendations. Original reporting is credited to the publisher named above. Read our editorial policy or report an error.