India set to curry foreign favours
Indian Prime Minister: Manmohan Singh
India will this month open its stock
market to foreign investors in a bid
to attract more funds and reduce
The government said individual foreign nationals will be able to invest directly in Indian shares from January 15 following a year of heavy losses on the benchmark Sensex index.
Until now, foreigners have only been allowed to invest in the country‚Äôs stock market indirectly through mutual funds.
government wants to attract new
investment as the economy slows.
The Sensex fell more than 22 per cent in
2011, making it one of the worst
performing in the region.
The rupee also lost about 14 per cent and recently hit an all-time low against the dollar.
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