Globalising India Inc

Indian cos should indeed be allowed foreign listings

The Securities and Exchange Board of India-appointed committee to examine the listing requirements for Indian and foreign companies in various stock exchanges has now submitted its report. The committee recommends that Indian companies be allowed to list on overseas exchanges — without, that is, a requirement to also list in the domestic markets — and that companies domiciled abroad be in turn permitted to list on Indian stock exchanges. This is a welcome move, and one that has been in discussion for some time. The committee’s report is unequivocal in arguing for the change, and its arguments deserve to be