Govt. invites comments on report of Working Group on Foreign Investment

The Government today said it had sent the Report of the Working Group on foreign investment in India to the financial sector regulators for their comments and remarks.

An official press release said the report had also been put on the Finance Ministry website to achieve wider consultation.

The reelase said comments on the report may be sent by e-mail to am.bajaj@nic.in and shefali.dhingra@nic.in by October 8, 2010.

The Working Group, consisting of members from the Government of India, the Securities and Exchange Board of India (SEBI) and the private sector, had submitted its report to the Government on July 30 this year.

With a view to rationalize the present arrangements relating to portfolio investments by Foreign Institutional Investors (FIIs), Non-Resident Indians (NRIs), Foreign Venture Capital Investors (FVCI) and Private Equity entities and so on, the Government had set up a working group to look at various types of foreign fund flows which take advantage of arbitrage across the respective stand-alone regulations and also make recommendations to the Government.

NNN