Companies can now list abroad without listing on local bourses first

New Delhi: India has allowed companies incorporated in the country to list and raise capital overseas without having to first list on local exchanges, a finance ministry statement said on Friday.

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The scheme will be implemented on a pilot basis for two years, the statement said.

India, which is facing a current account deficit of around $70 billion this fiscal year, has taken a series of steps to boost capital inflows into the country.

Reuters