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Qualified foreign investors (QFIs) have shunned bourses despite being allowed to invest in India.
The Centre mooted the idea of individuals directly investing Indian equities through QFI route on New Year's Day.
SEBI brought out detailed guidelines on QFI investments on January 13.
QFIs had earlier been allowed to use the mutual fund route to enter India effective August 9, 2011.
As on April 30, SEBI data showed that QFI investments in debt securities including infrastructure debt funds was zero.
“It is a $120-billion opportunity and we expect QFIs to come in by June or July this year,” said Mr Atul Gupta, MD, Orbis Financials, a qualified depository participant (QDP) Experts said they are waiting for CBDT to issue a notification on tax treatment of QFI transactions.
Marketmen also said that there would be economy of effort if SEBI exempts in person verification of QFIs during their KYC. QFIs already come from financial action task force (FATF) compliant countries and through regulated intermediaries such as private bankers or wealth managers.
FATF is an inter-governmental body combating money laundering and terrorist financing.
>raghavendrarao.k@thehindu.co.in
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