FIIs pitch for easy investment norms

Foreign companies in the private wealth management sector feel that India should relax the rules governing the segment.

Wealth managers from the Middle East and West unanimously said the India story would have been more attractive had the equity markets been open to direct investment for foreign investors, like that in China.

Sharad Nair, unit manager, commercial banking group, Mashreqbank, Dubai, said, "A large number of foreign investors are looking forward to the days when Sebi would allow foreign investors to park funds in Indian equities without going through the cumbersome process of registering as an FII.