Overseas individuals can raise equity investment to 10% from current 5% through PIS in listed stocks: Budget 2026

Synopsis Union Budget 2026 will allow Non-Resident Indians to invest in Indian equities via the Portfolio Investment Scheme, increasing individual limits to 10% and overall PROI limits to 24%. This move is expected to significantly impact equity markets, while AIFs and REITs are unlikely to be affected due to their existing tax advantages. Listen to this article in summarized format Union Budget 2026 has proposed allowing Individual Persons Resident Outside India (PROI) to invest in equity instruments of listed Indian companies through the Portfolio Investment Scheme (PIS). It is also proposed to increase the investment limit for an individual PROI under this scheme from 5% to 10%, with an overall investment limit for all individual PROIs raised to 24%, from the current 10%. Alternative Investment Funds (AIFs) and Real Estate Investment Trusts (REITs) typically invest through debt instruments and preference shares. The current proposal envisages PROI investing in equity instruments, which is likely to have a greater impact on the equity markets. AIFs and REITs are therefore unlikely to see any material impact, particularly as these investment vehicles already enjoy significant tax advantages, especially when investments are routed through GIFT City, says Saurabh Bhagat, Chief Financial Officer, Colliers India. Lessons from the Grandmasters N.R. Narayana Murthy Founder , Infosys Watch Now Harsh Mariwala Chairman & Founder , Marico Watch Now Adar Poonawalla CEO , Serum Institute of India Watch Now Ronnie Screwvala Chairperson & Co-founder , upGrad Watch Now Puneet Dalmia Managing Director , Dalmia Bharat group Watch Now Martin Schwenk Former President & CEO , Mercedes-Benz, Thailand Watch Now Nadir Godrej Managing Director , of Godrej Industries Watch Now Manu Jain Former- Global Vice President , Xiaomi Watch Now Nithin Kamath Founder, CEO , Zerodha Watch Now Anil Agarwal Executive Chairman , Vedanta Resources Watch Now Dr. Prathap C. Reddy Founder Chairman , Apollo Hospitals Watch Now Vikram Kirloskar Former Vice Chairman , Toyota Kirloskar Motor Watch Now Kiran Mazumdar Shaw Executive Chairperson , Biocon Limited Watch Now Shashi Kiran Shetty Chairman of Allcargo Logistics , ECU Worldwide and Gati Ltd Watch Now Samir K Modi Managing Director , Modi Enterprises Watch Now R Gopalakrishnan Former Director Tata Sons, Former Vice Chairman , HUL Watch Now Sanjiv Mehta Former Chairman / CEO , Hindustan Unilever Watch Now Dr Ajai Chowdhry Co-Founder, HCL, Chairman EPIC Foundation, Author , Just Aspire Watch Now Shiv Khera Author, Business Consultant , Motivational Speaker Watch Now Nakul Anand Executive Director , ITC Limited Watch Now RS Sodhi Former MD, Amul & President , Indian Dairy Association Watch Now Anil Rai Gupta Managing Director & Chairman , Havells Watch Now Zia Mody Co-Founder & Managing Partner , AZB & Partners Watch Now Arundhati Bhattacharya Chairperson & CEO , Salesforce India Watch Now