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India taxes are buzz-kill for likes of Carson Block
Mint Bangalore
|March 27, 2025
Overseas funds pulled around $15 billion from the Indian stock market this year, data compiled by Bloomberg show
Global funds returning to India's stock market amid a world-beating rally are having to set aside one of the biggest gripes expressed by the likes of Muddy Waters Capital LLC founder Carson Block — India's high taxes.
While global funds marked their first weekly purchase of local stocks in 2025 last week, they have been big sellers this year. In addition to an uncertain economic outlook, they point to New Delhi's tax code, that imposes high capital gains levies on overseas funds. It's at variance with other countries such as China, which are competing for their money.
This story is from the March 27, 2025 edition of Mint Bangalore.
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