Waajid Siddiqui, a corporate partner at Hogan Lovells who splits his time between the New York and Abu Dhabi offices of the law firm, chats about capital gains taxes in India, asserting that the 10% reduction in penalties for private equity firms will have a "very dramatic effect on valuations." Siddiqui also discusses whether megadeals will make a comeback in India and the regulatory climate that will directly impact M&A in the country, namely as a result of the general anti-avoidance rules. - Sarah Hashim-Waris