Mumbai, March 19: Kamlesh Chandra Varshney, a former member of the Securities and Exchange Board of India (SEBI), stated that the recent decline in the Indian stock market could present an appealing destination for foreign investors.
Varshney noted, “The increased tensions in West Asia have created an attractive opportunity for Foreign Portfolio Investors (FPIs) in the Indian market.”
Speaking at the Russia-India Forum event held at the National Stock Exchange, he emphasized that investing in Indian stocks at current levels represents a “very good opportunity.” The benchmark indices have dropped by over 8% this month, impacting investor sentiment, but this has also improved entry prices.
He further mentioned, “We are working to clarify the regulatory process and resolve technical issues to make it easier for Russian investors to invest in India.”
Currently, 23 Russian entities, including banks and financial institutions, are registered as FPIs in India, allowing them to invest in both equity and debt markets.
Varshney also highlighted that Russian companies could establish subsidiaries in India and raise funds through Initial Public Offerings (IPOs). He pointed out that in some cases, the valuations of subsidiaries listed in India have exceeded those of their parent companies located abroad, making India an attractive destination for fundraising.
He added, “SEBI is collaborating with market participants to develop technology-based solutions that will make access to Indian markets easier and cheaper for investors, thereby increasing participation.”
During the same event, NSE’s Chief Business Development Officer, Shriram Krishnan, suggested that Russian companies explore listing opportunities in Gujarat’s GIFT City, while Russian banks might consider establishing operations in this financial hub.
My name is Himanshu Tiwari. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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