India, Feb. 1 -- Persons residing outside India (PROI) will now be permitted to invest in equity instruments of listed Indian companies through the portfolio investment scheme as part of a push toward increasing the ease of doing business in India.

Presenting her ninth consecutive Budget, FM Nirmala Sitharaman proposed increasing the investment limit for individual PROIs to 10% from the current 5%. The combined investment limit for individual PROIs will also be increased to 24% from the current 10%, she said.

Currently, PROIs are allowed to invest in the equity instruments of Indian corporates only through the

foreign direct investment (FDI) or foreign portfolio investment (FPI) routes.

(The story will be updated soon)

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