New Delhi, June 5 -- The Central Government on Friday announced a series of reforms aimed at attracting greater foreign investment into India's equity and government securities markets, while strengthening the country's position as a leading global investment destination.
The measures, announced by the Ministry of Finance, are expected to make investment in Indian markets easier, improve market access for overseas investors and encourage long-term foreign capital inflows.
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, a facility that was earlier available only to Non-Resident Indians (NRIs) and...