Overseas retail investors may get to buy stocks directly
10 Oct, 2010, 12.15AM IST,Bloomberg
India may allow individual investors based overseas to directly buy stocks for the first time, easing a rule that restricts investments to mutual funds, said a finance ministry official with direct knowledge of the matter.
The rule change may add to the $92 billion foreign funds that have poured into local stocks since they were allowed into the country in 1993, with almost a quarter invested this year.
Purchases of Indian shares by funds based overseas reached a record $22 billion this year as the economy weathered a global recession triggered by the 2008 credit crisis.
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