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FPI holdings from Singapore, Mauritius surge 25% before DTAA implementation

Grandfathering is term for alteration of rules that apply to a certain investment technique

Pavan Burugula & Joydeep Ghosh  |  Mumbai 

Foreign portfolio investors (FPIs) based in Mauritius and Singapore had, it now appears, rushed to take advantage of the ‘grandfathering’ clause in the new Double Tax Avoidance Agreement signed between both the governments of the two countries and New Delhi. The treaties took effect from April 1. According to the data from Prime Database, 22 of the top 50 funds which invested in India through these two routes increased their India exposure to Rs 1.25 lakh crore by end-March, from Rs 1.04 lakh crore at end-December 2016 — a rise of around 25 per cent. The ...

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First Published: Sat, May 20 2017. 01:31 IST
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