Repealing India’s withholding tax is a start in the right direction – opinion
India could improve its profile with foreign bond investors by scrapping its withholding tax. Not only will this help demand but also show the bond market is on track to become more investor-friendly and flexible.
In his first comments on economic policy on July 31, Finance Minister Palaniappan Chidambaram vowed to restore investor confidence in India by removing any apprehension or distrust in the minds of investors.
The announcement came as India saw weakening capital flows hurt its currency and widen the current account
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