The upcoming budget could see investment in capital expenditure and further financial support to strengthen the recovery of the economy post the shock due to the pandemic. To encourage offshore funds onshore, the government must ensure that some of the conditions to be complied with under section 9A could be liberalised. For example, the requirement of monitoring resident Indian holding in the fund could be restricted to direct holdings. Further, the cap of resident Indian holding in the fund could be aligned to the limits prescribed under SEBI FPI Regulations,” said Anuja Bhargava, Head of General Counsel Shared Services, Fidelity International.
The quote was published in the Financial Express in February 2022.
The opinions expressed are author's own. Fidelity International is not responsible for the author's opinions.