New Delhi, June 5 -- The government on Friday announced a series of reforms aimed at making India a more attractive destination for foreign investors by easing investment rules for overseas individuals and foreign portfolio investors (FPIs) while also providing tax benefits for investments in government securities.

As part of the reforms, individual Persons Resident Outside India (PROIs) will now be allowed to invest in equity instruments of listed Indian companies through the Portfolio Investment Scheme (PIS). Earlier, this route was available only to Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs).

The Ministry of Finance said the measures are part of the government's efforts to strengthen India's position as a leadi...