Sebi chief Tuhin Kanta Pandey has emphasized the importance of policy certainty regarding Foreign Portfolio Investor (FPI) tax laws. 

Here’s a summary of his stance:

  • Policy Certainty:
    • Pandey advocates for stability in taxation policies, stating that once certainty is established, frequent changes should be avoided.
    • He believes that a stable policy environment is crucial for attracting and retaining FPIs.
  • Current Taxation:
    • He suggests that the current tax system has addressed investor concerns and that FPIs should accept the existing framework.
    • He has stated that the current tax system has been rationalized.
  • India’s Market Attractiveness:
    • Pandey highlights India’s strong market performance, including its delivery of robust US dollar returns, as a key factor in attracting FPIs.
    • He also points to the strong Indian economy as a reason for FPI’s to remain invested in india.
  • Sebi’s Role:
    • Sebi’s focus remains on trust, transparency, and technology in regulating the capital markets.
    • Sebi is open to discussion with FPI’s regarding regulations to make ease of operations.

Pandey reiterated Sebi’s commitment to its 4 core principles – trust, transparency, teamwork, and technology – stressing that trust is crucial in regulatory decisions and engagement with market participants.

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He has contributed in ICAI, ICSI and MCCI and other various Newsletters. He is also a speaker at various platforms including seminars / webinars.