Mumbai, First Published Mar 3, 2022, 1:51 PM IST
Shares of 4 US technology companies – Tesla, Apple, Amazon and Netflix – can be sold in India and bought by Indian retail investors.
From today, the trading facility will be provided by the International Stock Exchange (IPSE) arm of the National Stock Exchange (NSE). The first phase plans to list 4 stocks and gradually 50 stocks.
The buying, clearing and settlement of US shares are all done by the NSE International Trade Division.
How many shares sold
Shares of 8 companies are up for sale in the first phase. This includes shares of Tesla, Apple, Netflix, Amazon, Alphabet, Microsoft, Meta, and Walmart. The shares will soon be raised to 50 companies.
Will US stocks be listed in India
No. US stocks will not be listed in India. Instead, ASE will help it trade at a lower cost through its IFSC. It is no longer necessary to buy shares through US brokerages.
How much can you invest in US stocks
Indian retail investors can invest in US stocks to the extent specified by the Reserve Bank. That is, $ 2.50 lakh or up to Rs 1.90 crore can be invested.
What is the time to trade in US stocks
Indian investors and traders can buy or sell US shares only through NSE IFSC’s Gujarat International Finance Tech (GIFT) City. Business hours, 8pm to 2.30pm.
There is no taxation
Investment gains from holding U.S. stocks for less than 2 years are taxable under the minimum investment return. On the other hand, if you keep a profit for more than 2 years, you will be taxed at 20 percent based on long-term investment return.
Last Updated Mar 3, 2022, 1:53 PM IST