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“This is just another method for getting inflows into India and it is nice to hear that we are accepting transfer pricing mechanisms,” said Mr Arun Kejriwal, Founder KRIS Research, while reacting to allowing qualified foreign investors (QFIs) to access Indian Corporate Bond market..
“Advance ruling on such (accepting transfer pricing mechanisms) issues is a very positive step but looking at the fact that with retrospective effect, cases as early as 1962 can be re-opened, what is the intention or message that we want to send international investors?”
“Is it a case of sour grapes?” quipped Mr Kejriwal.
Not encouraging
“We expect a positive response from QFIs though the FII response to this was not very encouraging probably due to the lock-in period, said Dr Nirakar Pradhan, CIO, Future Generali Life Insurance.
“There might be some inflows but not much due to an amendment in retrospect which would reverse Vodafone like situations,” said Mr Kishor Ostwal, CMD CNI Research.
“Another window is being opened for funds to come in but we have to wait and see,” said Mr Hemant Kanawala, Head- Equity, Kotak Life Insurance.
> raghavendrarao.k@thehindu.co.in
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