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India scraps tax on overseas bond investors in bid to attract foreign capital and shore up the rupee
India is doubling down on measures aimed at attracting foreign portfolio investments, as capital outflows hit a record high. The government on Friday announced that it has exempted foreign investors and the Bank for International Settlements — a global financial institution owned by central banks— from income tax on any interest or capital gains. The exemption will take effect from April 1, 2026, as per the government's release.