Trading in the mainland exchanges has become more taxing, the govt has brought exchanges situated in IFSCs on par with offshore centres
The timing of the Indian government’s decision to reintroduce long-term capital gains (LTCG) tax is intriguing. Just last month, Singapore Exchange Ltd (SGX) told investors it had garnered a 52% share of global Nifty futures volumes, up from 47% a year ago. And combined with Dubai Gold and Commodities Exchange (DGCX), offshore centres have nearly caught up with Indian exchanges in dollar-rupee trading.
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