My Quote in MoneyControl on the practical realities vis-a-vis recently notified permissibility of investments by non-residents through portfolio investments: The decision to extend the overseas portfolio investment route to all non-residents is a welcome signal of intent, but intent alone does not draw capital. For a foreign investor with no existing connection to India, the requirement to obtain a PAN, file annual returns and maintain a fully KYC-compliant demat account imposes a cost in terms of unease of doing business that often outweighs a modest investment.
Link to the Article: https://www.moneycontrol.com/news/business/compliance-hurdles-threaten-government-s-plans-to-open-indian-market-to-foreigners-13950868.html