Rama Mohan Rao Amara, Managing Director of State Bank of India, has backed the government's decision to exempt foreign portfolio investors from capital gains tax on Indian government securities, calling it a well-timed and proactive step to attract overseas capital at a moment when global sentiment toward emerging markets remains under pressure.
Speaking to ET Now, Amara said the measure would prompt FPIs to take a fresh look at Indian debt, even as the stronger pull of high US interest rates and AI-linked investment opportunities continues to compete for global capital.
