foreign capital

For fuel, price hikes will do the job. For rupee, a hike in interest rates, one-time dollar bonds issue for NRIs & capital gains tax rejig will do the trick. Remember, our macros are just fine

Uday Kotak, founder of Kotak Mahindra Bank, urged India to reduce its reliance on foreign capital and cultivate a robust domestic pool of long-term risk capital for true self-reliance. He emphasized that companies should prioritize building businesses with a three-to-five-year vision over short-term stock price fluctuations, advocating for stronger domestic private equity and venture capital ecosystems.

Finance minister Nirmala Sitharaman expressed openness to investor concerns regarding capital gains tax, assuring that the government will consider stakeholder suggestions. She also defended recent fuel price hikes, attributing them to global crude oil costs and highlighting the government's prior absorption of excise duties.

Sitharaman also pointed out that apart from higher crude oil prices, fertiliser prices have reached “unimaginable” levels, while elevated gold prices are creating challenges on the external sector front.

Economists believe India’s foreign-exchange reserves are still sufficiently strong to shield the rupee from the oil price shock triggered by the Iran conflict, with the country’s reserve buffers remaining far healthier than the levels seen during the 2013 taper tantrum.

The proposal was suggested by the Reserve Bank of India and is currently under active consideration by the Finance Ministry, sources said. Talks around reducing taxes for overseas investors have accelerated amid efforts to slow the rupee’s decline, they added.

The exuberance of Indian investors has pushed valuations so high that MNCs as well as PE/VC funds are seizing the opportunity to exit

Indian overseas travel spending saw a significant drop in March, with remittances falling by over $212 million from February. This decline, attributed to rising oil prices and a weakening rupee, occurred despite travel remaining the largest component of outward remittances under the Liberalised Remittance Scheme.

Authorities in Berlin have apprehended an alleged accomplice in the stabbing of a Spanish tourist at the Holocaust Memorial. The Syrian national, identified as Khalaf A., is accused of encouraging the convicted attacker, Wassim Al M., who was motivated by ISIS ideology. Al M.

Bolivian police clashed with protesters on Saturday to clear roads and allow provisions into Bolivia's political capital of La Paz, amid a wave of protests against right-wing President Rodrigo Paz. "We don't know how long we're going to endure this... we don't have enough to eat sometimes," Marco Cuttila, a student in La Paz, told AFP. Riot police began operations in the early hours of Saturday to remove debris blocking the roads at various points, firing tear gas to disperse protesters when they tried to defend the blockades.