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
Trending On Reuters
India can increase public investment to drive growth without borrowing more, a key government report said on Friday, in an indication that Finance Minister Arun Jaitley will stick to debt targets in his maiden full-year budget on Saturday. Full Article
Global investors lift exposure to stocks as major markets touch record highs Full Article