Capital move

The UPA government has chosen the start of 2012 to announce an important policy reform — to allow individuals from abroad to directly invest in Indian companies through the stock market route. So far, only foreign institutional investors (FIIs) and other foreign entities registered with the stock market regulator, SEBI, were permitted to buy shares on Indian bourses. Allowing individual retail investors globally to directly buy Indian stocks is an important step for greatly expanding the base of foreign portfolio investors looking at India. It also marks a major liberalisation of the capital account.

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