Saturday, December 4, 2021
Home Cities New platform to help India raise foreign capital by end of ’21:...

New platform to help India raise foreign capital by end of ’21: IFSCA chairperson


The NSE IFSC-SGX Connect platform that’s anticipated to turn out to be operational in GIFT City by the end of 2021, may help Indian corporations raise foreign capital in future, mentioned Injeti Srinivas, chairperson, International Financial Services Centres Authority (IFSCA), on Friday.

Addressing the gathering on the formal opening of Singapore Exchange (SGX) offshore workplace in GIFT campus, Srinivas mentioned, “Singapore is a well established and highly acknowledged global financial hub. As far as (GIFT) IFSC is concerned, it is India’s endeavour to integrate with the global financial system and position the IFSC as the gateway for capital flows in and out of the country… One of the most important prerequisites for India’s growth and aspiration to become a five trillion dollar economy, is global capital flows… A lot of investments are looking for reliable, sustainable destinations for investments, and I think India will be one of the preferred destinations.”

Talking concerning the NSE IFSC-SGX Connect — an initiative between National Stock Exchange (NSE) and SGX to collaborate in buying and selling inventory index based mostly merchandise, Srinivas mentioned the platform is predicted to turn out to be operational by the end of 2021.

“Right now it is for NIFTY products, but in future it can be a two-way process. Indian companies can also raise international capital from this exchange. Foreign companies, especially from south-Asia can raise capital here,” he added.

Loh Boon Chye, CEO of Singapore Exchange, in his digital tackle mentioned the formal opening of the SGX workplace in GIFT City will make the cooperation with NSE stronger. “We are also excited to announce the launch of our GIFT Data Connect, another significant achievement in delivering the NSE IFSC-SGX Connect. The GIFT Data Connect enables SGX international members to access real-time trading data of NIFTY contracts…, giving investors unrivalled insights into India’s equity markets,” the SGX official mentioned.

Vikram Limaye, MD and CEO of NSE, mentioned the launch of the market Data Connect brings NSE IFSC-SGX join one step nearer to operationalising. “This market Data Connect will allow SGX members to read the price data of NIFTY derivatives products at NSE IFSC real-time. It will help them fine-tune their trading strategies in preparation for the connect to go live… Our teams are working closely to set up the Connect infrastructure to ensure smooth transition of trading derivatives through NSE IFSC.”

Limaye mentioned the NSE IFSC SGX join showcases the “close cooperation” between India and Singapore the place the progress is being supported on the highest ranges of each the governments.

Tapan Ray, Group CEO of GIFT City, mentioned the event between NSE and SGX will “chart the course for trading of SGX NIFTY products on Indian soil through the IFSC platform at GIFT City”. “The landmark step will not only attract global investors and increase the participant base, but will also encourage many more offshore entities to establish their presence in GIFT City… Connectivity across two international platforms — one at GIFT CIty and other at Singapore… will augment capital market flows between India and rest of the world,” Ray added.

Cheong Ming Foong, Consul General of Singapore in Mumbai, mentioned the SGX workplace in GIfT City is a “concrete manifestation” of the wonderful relationship between Singapore and India. He mentioned the mission will improve investments and capital markets flows into India.



Source link

RELATED ARTICLES

Only 20 lakes in Bengaluru free from any encroachments: BBMP report

The Bruhat Bengaluru Mahanagara Palike (BBMP) is accountable for 204 lakes right here, of which solely 20 lakes are free from any encroachments,...

Pune: Tribute to activist Kamla Bhasin by Parvathy Baul, Shabnam Virmani on Dec 9

Noted feminist activist and poet Kamla Bhasin’s last wish was to carry two musical occasions on ‘The Politics of Love’ – one in...

Maharashtra mulls action against striking MSRTC workers under Essential Services Act

After a number of makes an attempt to resolve the Maharashtra State Road Transport Corporation (MSRTC) staff’ strike that has almost paralysed public...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Lionel Messi worthy of seventh Ballon d’Or victory, says Xavi

Barcelona supervisor Xavi Hernandez mentioned former teammate Lionel Messi deserved his Ballon d’Or win, describing the Argentine’s record-extending seventh victory as “total justice.” Paris...

Only 20 lakes in Bengaluru free from any encroachments: BBMP report

The Bruhat Bengaluru Mahanagara Palike (BBMP) is accountable for 204 lakes right here, of which solely 20 lakes are free from any encroachments,...

Pune: Tribute to activist Kamla Bhasin by Parvathy Baul, Shabnam Virmani on Dec 9

Noted feminist activist and poet Kamla Bhasin’s last wish was to carry two musical occasions on ‘The Politics of Love’ – one in...

Amid wedding rumours, Katrina Kaif and sister greet the photographers

Amid her marriage ceremony rumours, Bollywood actor Katrina Kaif has been turning heads. Her public appearances are grabbing the eye of the paparazzi....

Recent Comments