Tax exemption fuels ₹35,000 crore FPI bond surge, pulls 10‑yr yield down
India’s ordinance exempting FPIs from tax on interest and capital gains sparked a ₹35,000 crore surge in government‑bond purchases within two weeks, slashing the 10‑year G‑Sec yield by roughly 10 basis points. The inflow revives liquidity, deepens the market and signals a policy‑driven shift toward greater foreign participation in Indian sovereign debt.