 "cash, currency, notes, funds, investment, shares, growth, profit, loss, tax, money, income, earnings")
The government has classified foreign portfolio investors (FPIs) from the UAE as eligible for taking up Category-I licence — a move that could boost investment from the region into India.
The UAE is the second non-FATF (Financial Action Task Force) Country, after Mauritius, to be given the exemption.
As many as 72 of the 113 FPIs coming from the UAE are currently classified as Category-II FPIs. The Abu Dhabi Investment Authority (ADIA), a sovereign wealth fund, has been a major investor into India. “India’s strong ties with the UAE saw the ADIA being covered as a sovereign fund for tax holiday last
