Foreign Portfolio Investors the pillar of strength for the Indian market under Tax cloud.

The Indian stock market has been under turbulent market conditions over the last 12 months. The first budget of NDA 2.0 has not been a market friendly one, with the effective long-term capital gains tax incidence for FPIs operating as trusts earning between INR 2 crores and INR 5 crores has gone up from 11.96% to 13%, while it has increased to 14.25% for those earning over INR 5 crores leading to a lot of market uncertainty and resulting in a sell-off.