The government is considering a simple and streamlined set of norms for all kinds of overseas investments into capital markets, but wants such foreign investors to undergo a stricter scrutiny process. The move could facilitate direct investments by both individual and institutional entities abroad into Indian equity and debt markets, as against the current practice of coming through FIIs, venture capital and private equity funds.
Seeking equal treatment in investment and taxation between overseas and resident Indians, diversified conglomerate Hinduja Group today said amnesty must be given to bring back black money from foreign soil to India.
The government is likely to increase excise duty by 2 per cent in sectors like FMCG and automobiles, as well as raise service tax, in the forthcoming Budget to reduce the fiscal deficit, a report said.
Terming existing corporate laws as complex and not conducive to overseas M&A by domestic firms, CII today asked the government to facilitate such deals by easing regulatory norms to increase the presence of Indian firms in global markets.
