NSE Chief Chitra Ramkrishna Woos China's Financial Institutions, Stock Exchanges


"For big players like sovereign wealth funds and state investment corporations and so on, accessing India has become much simpler. We are getting very good feedback from several other destinations," she said.

"The number and volumes coming from foreign investors or foreign portfolio investors is fairly high in the Indian markets. This will improve the ability for several others to come to India. So we are expecting volumes to grow in the coming years as the new framework is understood and appreciated more," she said.

At the Conference of the International Finance Corporation in China, she said, "there was a lot of cross market learning between emerging countries".

"There is a lot to learn from each other. India has done reasonably well on the markets front. Direct investment is where China has done pretty well. Each country has its own set of sequencing what they want to focus on, but in the ultimate analysis we have to do everything," she said.

India's decision to go with market reforms first has paid off, she said. "You can see a good amount of investment flows into India through the markets."

Chitra also allayed concerns of foreign investors in India or potential investors over GAAR.

"There is a lot of clarity available. The clarity has been sought and provided. I would say there is certainty in the framework," she said, adding that a tax certainty and clarity that was being sought by people has been provided for.

Asked whether NSE is looking for tie-ups with Shanghai, Shenzen and Hong Kong stock exchanges similar to the partnerships with exchanges like Singapore and Chicago Mercantile exchange, where Nifty linked products are trading, she said: "we would love to do that. Ultimately Nifty is a proxy of the Indian markets. We can find several areas of cooperation".

"Importantly Nifty is really a barometer of Indian markets. If there is one asset class which can be useful for a Chinese investor to put his investments in India that should be in Nifty. We will be happy to explore," she said.

Source: PTI