Securities and Exchange Board of India (Sebi) on Friday formulated a committee, which will advise it on steps to facilitate ease of doing business by Foreign Portfolio Investors (FPIs) in India.
Besides, the advisory committee will suggest measures required to encourage FPI participation in the bond market and advise on issues related to investments and operations of such investors in the Indian financial markets.
The 15-member panel will be chaired by KV Subramanian, former chief economic adviser to the Government of India, the regulatot said in a statement. Other terms of reference of the committee include review investment avenues available for FPIs and advise on feasibility of new investment avenues. The committee will be required to recommend measures for simplification of FPI regulations and to advise on custodian-related matters pertaining to such foreign investors.
Apart from Subramanian, chiefs of depositories, academician and legal experts are part of the committee.
Other members of the committee include Harun R Khan, former deputy governor of RBI; Madhav Kalyan, Martin Graham, MD of Global Public Policy Group of iShares (BlackRock); CEO at JP Morgan Chase Bank, N.A; HSBC Bank CEO Hitendra Dave; Bobby Parikh, Managing Partner at Bobby Parikh Associates, Rushabh Maniar, Partner at AZB & Partners; Shashwat Alok, Assistant Professor at Indian School of Business and Rajesh Gandhi, Partner at Deloitte Haskins & sells LLP.
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