India scraps tax on overseas bond investors in bid to attract foreign capital and shore up the rupee

A money lender counts Indian rupee currency notes at his shop in Ahmedabad, India. Amit Dave | Reuters India is doubling down on measures aimed at attracting foreign portfolio investments, as foreign capital outflows hit a record high . The government on Friday announced that it has exempted foreign investors and ​the Bank for International Settlements — an international financial institution owned by central banks— from income tax on any interest or capital gains. …