Published on Wed, Sep 06, 2006 at 09:34 | Source : Moneycontrol.com
Updated at Fri, Sep 08, 2006 at 14:32
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Rakesh Jhunjhunwala on markets & P-Notes
The Tarapore Committee has recommended phasing out P-notes in its report on capital account convertibility. But investor and trader, Rakesh Jhunjhunwala says that non-Indians must be allowed to invest in India.
The Tarapore Committee has recommended phasing out P-notes in its report on capital account convertibility. Here's what investor and trader, Rakesh Jhunjhunwala feels about foreign investors, reports CNBC-TV18.
"We should allow non-Indians to invest in India, I have more faith in FIIs than FDI. We need capital," said Rakesh Jhunjhunwala.
Jhunjhunwala added that the government should look at an alternative mechanism for P-notes before stopping them.
"Even if the government decides to do away with P-notes, we have to give time for P-notes to unwind and allow alternative mechanism for investment to people, who want to invest because we need capital," he added.
"Even if the government decides to do away with P-notes, we have to give time for P-notes to unwind and allow alternative mechanism for investment to people, who want to invest because we need capital," he added.
