Edelweiss head says India should scrap equity tax on foreigners

GreyOak summary

Edelweiss Chairman Rashesh Shah urged the Indian government to remove capital gains tax on foreign investors to revive stock markets and boost inflows. While Finance Minister Nirmala Sitharaman indicated she would consider tax changes, no confirmation was given. Foreign investors have sold $28 billion this year, though recent inflows of $5 billion helped the market rebound.