Union Budget proposes to make NRI investment much easier

Finance Minister Nirmala Sitharaman on Friday said that NRI investment in the country would be made much easier by merging NRI portfolio route with foreign portfolio investment.

Finance Minister Nirmala Sitharaman on Friday said that NRI investment in the country would be made much easier by merging NRI portfolio route with foreign portfolio investment. "To provide NRIs seamless (access) to Indian equities, NRI portfolio investment route will be merged with the foreign portfolio investment route," she said while presenting the Union Budget for 2019-20 in the Lok Sabha on Friday.

She said that annual global investors' meet would be organised in India, using NIIF as "the anchor to get key sets of global players to come and invest in India." She also announced to open up FDI in aviation, media, animation AVGC, and insurance to be examined, in consultation with stakeholders, while 100 pc FDI to be permitted for insurance intermediaries. (ANI)

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