Chidambaram says to raise foreigners' bond holding caps - Citi
NEW DELHI (Reuters) - India will raise by $5 billion each the caps on foreign institutional investors holding government and corporate bonds, Finance Minister P. Chidambaram said on Tuesday and forecast growth of 6.5-7 percent in the next fiscal year, Citi said in a note.
Foreign investors will be allowed to hold up to $15 billion of government bonds and $25 billion in corporate bonds, the minister was reported to have said during a meeting with investors in Hong Kong.
A one-year lock in period on holding infrastructure bonds will be eliminated, he said.
The meeting was held in the lead up to India's 2013/14 budget on February 28 where new investment and tax guidelines are likely to be announced.
(Reporting By Frank Jack Daniel)
- Tweet this
- Share this
- Digg this
The "world's factory" and the "world's back office" could together drive global economic growth, Chinese President Xi Jinping said as he began a rare visit to India on Wednesday, playing down mistrust that has long kept the Asian giants apart. Full Article
China cenbank injects $81 bln into major banks to support economy - reports Full Article