The long term capital gains tax, reintroduced in the union budget, will have an adverse impact on investment in the Indian market said Samir Arora, fund manager at Helios Capital.
“India is now charging 10 percent more tax than other countries. So for a foreign investor, India has become 10 percent less interesting than whatever it was before,” he said in an interview to BloombergQuint, somewhat in contrast to the sanguine acceptance of other fund managers.
It is not possible that for an investor who has a choice between 10-15 countries, a 10 percent rise in tax will not make a difference, Arora emphasised.
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Watch the full interview here.
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