MSCI Slams Indian Exchanges' Move to Sever Overseas Ties
- India’s market classification could change, MSCI warns
- Nation has fourth-biggest weight in MSCI emerging market gauge
This article is for subscribers only.
A move by Indian exchanges to stop all licensing deals with their foreign counterparts is anti-competitive and could jeopardize the country’s standing in indexes tracked by global funds worth trillions of dollars.
“If the changes are put into effect, the result will be disruptive and harmful to international institutional investors in Indian equities,” New York-based MSCI Inc. said in a statement on Thursday. It said it is monitoring the situation and warned India’s market classification could change unless the “restrictive measures” are removed.