Apropos the editorial "Transparency first" (February 5), the government must take a firm stand over the Know-Your-Customer norms for foreign institutional investors (FIIs). When there is an optimistic environment prevailing in the economy and foreign investors are enthusiastic about investing in India, the government must not miss the opportunity.
The willingness to avoid general anti-avoidance rules for FIIs is not a good sign. When Indian markets are performing well and there are good remarks all over the world, there is no need to create loopholes deliberately by avoiding KYC rules for FIIs. The government must create a business-friendly environment by implementing KYC norms for FIIs rather than avoiding them to lure foreign investors.
Suman Gill Hisar, Haryana
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number
