India grants tax exemption for ICC trophy

NEW DELHI, Thursday (Reuters) - The Indian government has cleared the way for the country to host next year's ICC Champions Trophy tournament.

The International Cricket Council (ICC) had said the biennial event, second in importance only to the World Cup, would be given to India provided the proceeds were made tax-free.

The event would have gone to Pakistan, which has already announced a tax-exemption, if the Board of Control for Cricket in India (BCCI) had not got the clearance by the end of May.

"After examining the Indian cricket board's request, a decision was taken that (tax) exemption should be granted," Indian finance minister Palaniappan Chidambaram announced on Thursday.

"We can now stage the 2006 Champions Trophy. This will also help us bring the 2011 World Cup to India," he said.