THE U.K. Chancellor of the Exchequer George Osborne is reported to have had a “candid” conversation with his Indian counterpart, telling him that the plans to retrospectively allow capital-gains tax on cross-border acquisitions will reduce investment into the country. The Indian Finance Minister Pranab Mukherjee proposed in his March 16 budget changing the law to allow the taxation of overseas deals in which an Indian asset is transferred. Mr, Osborne is reported to have said that the sudden and unprecedented move in the bill will undermined confidence in the policies of the government of India toward foreign investment and taxation