India’s Place in Global Markets at Stake in Virus Response
- Recent moves widened foreign investor access to bond market
- India also moved to address segmentation in currency trading
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India’s checkered history with foreign investors is making one of the biggest emerging markets look particularly vulnerable at a time when its need for overseas funding has never been clearer.
Decades of semi-socialist, self-reliance based policies following independence left a legacy of ambivalence, or even skepticism, towards overseas capital. As recently as last year, plans for an inaugural offshore sovereign bond provoked a wave of controversy.