No need to alter FPI tax laws, says Sebi chief Tuhin Kanta Pandey, bats for policy certainty – The Times of India

MUMBAI: Sebi chief Tuhin Kanta Pandey mentioned Saturday there was no need to change taxation legal guidelines for overseas portfolio buyers as India has delivered double-digit returns in greenback phrases and policy certainty is crucial. Pandey emphasised Sebi’s give attention to belief, transparency, and know-how whereas highlighting the need for balanced regulation. He mentioned Sebi would proceed taking motion in opposition to corporates for deceptive disclosures, as flagged by its surveillance methods.
In a chat with a information channel, the Sebi chief mentioned the regulator has developed below successive management and advantages from a robust institutional framework. “I imagine we’ve got one of the perfect capital market infrastructures on the planet. Our function is to repeatedly meet the challenges in a dynamic atmosphere,” he mentioned.
Pandey reiterated Sebi’s dedication to its 4 core ideas – belief, transparency, teamwork, and know-how – stressing that belief is essential in regulatory choices and engagement with market members.
On taxation legal guidelines for FPIs, he careworn the significance of stability in policy. “As soon as certainty is established, it shouldn’t be incessantly unsettled. India’s capital markets have delivered robust returns – MSCI India has offered 11% annualised greenback returns over the previous 5 years, in contrast to 2% in rising markets and destructive returns in developed markets,” he mentioned.
Pandey acknowledged regular market dangers together with heightened geopolitical and geo-financial uncertainties. “Since Covid, world realignments have occurred, together with provide chain shifts, commerce tensions, and geopolitical occasions. These dangers will persist, however India is actively participating in bilateral commerce agreements and FTAs to mitigate impacts,” he mentioned. On transparency, he mentioned Sebi is among the many most open regulators, with intensive discussions and consultations earlier than implementing rules.