India to ease up on venture capitalists

India''s hi-tech industry hopes changes in venture capital rules will help pull in $10 billion from foreign investors within five years.

The Securities and Exchange Board of India SEBI is meeting this Friday to discuss ways to facilitate foreign venture capital investments into the country's fledging knowledge-based economy.
The agenda is likely to include the elimination of double taxation on venture capital funds and the harmonization of rules governing foreign investments.

DR Mehta, chairman of the securities market regulator, told delegates at a capital market conference in Calcutta this week that changes in the Venture Capital Fund VCF rules are needed to help put India on the path of becoming hi-tech.

If 40% of projects in Silicon Valley could be funded by VCFs, then why the same could not be done in India...


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