MUMBAI: Domestic corporates are now looking at the US, Singapore and the Britain as the top three new investment destinations for raising capital, says a survey.
"Indian corporates consider the U.S., Singapore, and Britain as the top three most strategically important countries for new sources of capital over the next five years," according to an investor relations survey conducted by American brokerage BNY Mellon.
The survey has revealed that as many as 92 percent of the domestic companies ranked the U.S. as the number one country for capital raising, followed by Singapore at 89 percent, England 79 percent and Hong Kong at the fourth place at 76 percent.
However, as many as 72 percent respondents consider the home market as the best place to raise capital and invest. It can be noted that in 2012, India topped the table as the most strategically important investment destination but it has slipped to fifth slot in 2013.
"While domestic companies continue to raise money at home, there has been an acute shift in their geographical outlook towards international investment lately," BNY Mellon head of depositary receipts for Asia-Pacific Neil Atkinson said.
He said the with a strong government, the country could be poised for economic and financial reforms which could make it easier for domestic companies to access competitively priced international capital.
The survey said more companies will consider using depositary receipts to access global markets in 2015.
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