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INDIAN FM SEEKS OPENING UP OF FINANCIAL SECTOR FOR GLOBAL MAJORS.
MUMBAI, Nov 1 Asia Pulse - India should open its financial sector for foreign institutional investors and global majors, including brokerage firms, mutual funds and insurance companies, in order to become a financial powerhouse, Union Finance Minister P Chidambaram said.
"I am of the opinion that entry of global players would help the country in replicating the successes achieved by trade and industry," he said at a function that marked the 10th anniversary of National Stock Exchange here Friday.
"Of course, there would be a limit for the percentage of investments globals companies can make in India, but there would be no barriers for competition," he said, adding that competition would be good for existing Indian ...
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Source: HighBeam Research, INDIAN FM SEEKS OPENING UP OF FINANCIAL SECTOR FOR GLOBAL MAJORS.