NEW YORK--(BUSINESS WIRE)--Morgan Stanley Investment Management announced today that the Board of Directors of Morgan Stanley India Investment Fund, Inc. (NYSE:IIF) approved a proposal for the Fund to cease doing business in Mauritius and instead invest directly in Indian securities from the United States. The proposal was approved by the Board in order to respond to the implementation of the Indian General Anti-Avoidance Rule and Protocol to the Mauritius-India Double Tax Treaty, which, among other things, will result in the removal of the exemption on short-term capital gains tax effective for sales by the Fund of Indian securities purchased on or after April 1, 2017. The Fund’s investment adviser, Morgan Stanley Investment Management Inc., expects this transition to be completed prior to April 1, 2017.

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