Leading Foreign Institutional Investors (FIIs) including JP Morgan, HSBC, Barclays, Standard Chartered, Deutsche Bank and prominent Indian company representatives met the Finance Minister Nirmala Sitharaman on Friday to discuss the controvertial tax on FIIs.
The delegation of FIIs included Vipul Mehta of Nomura, Vijay Karnani of Goldman Sachs, Pallav Kumar of Deutsche Bank, Amit Padhye of Standard Chartered.
Representatives from JP Morgan, HSBC, Blackrock, CLSA and Barclay were also were among the 18 foreign portfolio invesdtors (FPIs) who met the Finance Minister to raise issues such as the recently - introduced tax surcharge and seek either full rollback or suitable tweaking to keep them out of the higher tax net.
Among the 20 Indian investors at the meeting were, Uday Kotak of Kotak Mahindra Bank, Chief Executive NSE Vikram Limaye, Chief Executive BSE Ashish Chauhan and representatives of Tata Capital, Edelweiss group, Aditya Birla Sunlife.
Since the announcement of the tax on FPIs in the Union Budget, Indian equity markets have seen one of the worst outflows in the recent past.