 "FII regime makes way for FPI")
The new foreign portfolio investor (FPI) regulations, which replace the two-decade-old foreign institutional investor (FII) regime in the Indian market, have become operational from Monday. From now on, new overseas investors wanting to enter the Indian market will be registered under the FPI regulations. The regulations were notified by Sebi in January 2014. However, certain regulatory and taxation hurdles delayed the implementation. "It is now easier and faster for foreign investors to access the Indian market," said Kapil Seth, head, HSBC Securities Services India, a designated depository participant, a link between the regulator and investor. Existing FIIs and sub-accounts due for renewal will have to register under the new regime. On the other hand, existing QFIs (qualified foreign investors) will have to register within a year.
"The inherent attractiveness of the Indian markets, has kept India as a focal point of our securities business and we are pleased to roll out this new framework for our global clients”, said Aashish Mishra, Head of Securities Services for Citi in India, another DDP.
"The inherent attractiveness of the Indian markets, has kept India as a focal point of our securities business and we are pleased to roll out this new framework for our global clients”, said Aashish Mishra, Head of Securities Services for Citi in India, another DDP.