SGX: India’s large infra investment will have to come from overseas
With regard to the NDA government’s efforts push to investment in the infrastructure segment through PPP route, the Singapore Exchange Ltd (SGX) has expressed the opinion that the massive investment would largely have to come from overseas because investments from within India would be limited.
SGX has asserted that it will play an instrumental role in mobilizing higher ‘overseas’ capital inflows for India’s infrastructure sector.
Noting that the SGX’s view on India is “more positive” than what it was six months back, SGX CEO Magnus Bocker said that the Budget presented by the NDA government this month specifically aims at synchronization of the rules and regulation for capital markets with the regulations that are currently in place in the overseas markets.
According to Bocker, the Indian market is now being watched more keenly by global investors, especially the listing rules were eased in September 2013 and the presentation of the latest Budget. The easing of rules now enables companies to list and raise capital overseas, without first being listed in India.
Moreover, against the backdrop of the fact that the NDA government is stressing on the strengthening of the rupee, Bocker said that SGX – one of the leading stock exchange hubs in the ASEAN region – would explore the option of the opening up of the currency futures trading; and added: “We work with BSE and NSE very closely. We will look at what we can do to service their needs as against ownership or anything like that.”
Source- The Pioneer
