Mauritius’ importance as a jurisdiction for Indian investment is significant, with foreign funds from the nation holding Indian securities (including debt and equities) worth ₹3.4 trillion as of 30 April, data from depositories showed.
Following the release of the Hindenburg report on Adani Group, which named certain Mauritius-based foreign portfolio investors (FPIs), most custodian banks have raised the risk status of Mauritius.
The report has also sparked a broader discussion in India about the opaque structures employed by a few Mauritius-based entities. Indian regulators have also turned wary of some Mauritius-based investors. Most recently, the government published a list of 21 countries whose investors were exempt from paying angel tax. Mauritius was not part of the list, even though it is a major source of foreign investment in India.
An email sent to Mahen Kumar Seeruttun, minister of financial services and good governance of Mauritius, on Thursday, remained unanswered.
Bu hikaye Mint Mumbai dergisinin June 02, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Mint Mumbai dergisinin June 02, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Green steel may get a push with output, purchase mandates
The Centre is working on green steel mandates for the local steel industry, supported by government procurement and financial incentives, as the world's second-largest maker of the alloy seeks to prepare the sector for the future.
RBI action on personal loans, KYC takes toll on off-roll work
The Reserve Bank of India's (RBI) push for stricter compliance with know-your-customer (KYC) norms, and its crackdown on the surge in personal loans have had an unlikely fallout: a dip in demand for off-roll workers.
Investors are betting on a market melt-up
A roaring market rally since the U.S. presidential election has driven up the price of everything from shares of technology and manufacturing giants to cryptocurrencies.
India in economic sweet spot, inflation to moderate: Moody's
India's economy is in a sweet spot and its inflation is expected to moderate despite a temporary spurt, Moody's said, projecting optimism about the country's growth prospects despite recent underwhelming data.
Incentive engine to drive modern ships
Subsidies for green, high-tech ships under ₹18,000 cr policy
Cement firms wage war on costs as competition soars
India's cement makers who once flexed their pricing muscles are caught in a bruising price war, eroding margins at a time of rising demand.
Saudi Arabia doesn’t have enough money for its futuristic city
The giant futuristic planned city of Neom is proving a headache for Saudi Arabia. Costs are up, schedules are delayed, and in recent days the world’s largest construction project replaced its chief executive of six years.
EV adoption is a marathon, not a sprint: Audi India
The slowdown in electric vehicle (EV) sales is temporary, and the industry will grow over time, Audi India head Balbir Singh Dhillon said, pointing to the need for extensive charging networks and supportive government policies.
India's trade gap with China soars in Apr-Oct
The country's green transition increases reliance on Chinese imports
14 nations eye India's generic drug model
Countries will specify their requirements, with HLL and MEA coordinating with them for the pharma exports
