Foreign investors are bolstering offshore arms with tangible operations to demonstrate substance, following a Supreme Court ruling that denied tax benefits to entities lacking it. Measures include appointing local directors and hiring office space to prove these entities are not merely paper companies designed to evade Indian taxes.
BofA CEO Moynihan sees India as major growth engine, calls for more capital
Bank of America CEO Brian Moynihan says India is the fastest-growing major market globally, offers huge opportunity, and will need large amounts of capital to
January 30, 2026