New Delhi, Oct. 19 -- Industry body ASSOCHAM has called for further tax rationalisation and simpler tax rules to attract stable, long-term foreign investment, while welcoming recent measures by the Reserve Bank of India (RBI) and the Finance Ministry to strengthen investor confidence amid volatility in the rupee and foreign portfolio investment (FPI) flows.

ASSOCHAM President Nirmal K Minda said the coordinated measures taken by the central bank and the government would help maintain macroeconomic stability and improve investor confidence amid global uncertainty.

The industry body said the government and the RBI were moving in the right direction by addressing currency volatility and making India's investment environment more predictabl...