India is considering allowing certain foreign investors to raise capital in rupees for investments in select countries, aiming to boost the global use of the Indian currency. This comes after Finance Minister Nirmala Sitharaman's July announcement to simplify foreign direct investment and overseas investment rules. The move targets nations of strategic interest to India, enabling capital raising in rupees. Legislative amendments to the Foreign Exchange Management Act will be required for implementation. Recently, India introduced changes to simplify cross-border share swaps to aid Indian businesses in their global expansion efforts.
Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.