Modi gives lift-off to Indian capital markets

The Modi government has cut withholding taxes on offshore bonds and raised limits on foreign investment in insurance companies.

Modi gives lift-off to Indian capital markets
Narendra Modi

The new Narendra Modi-led government last week introduced a slew of proposals aimed at boosting capital markets activity and attracting foreign investment.

To create a more investor friendly environment, the government has curbed the use of retrospective taxation, a move aimed at allaying concerns among investors raised by Vodafone's long-standing tax dispute with the government.

Mobile operator Vodafone's wrangling with the government started when it acquired Hutchison Telecom's stake in Hutchison...

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