UP's first data center park to be built in Greater Noida

New Delhi: The government wants to make the listing of Indian companies in foreign stock markets easier. The government will soon announce the names of 7 such countries, including Gujarat Finance-Tech (Gift) City, where Indian companies can be listed in the stock markets.

The government is also trying to make this process easier. Apart from companies like Reliance Jio, LIC, many startups will benefit from this move of the government.

The Ministry of Company Affairs and the Department of Economic Affairs have decided to scrap the controversial clause of dual listing, which is required for listing in India as well as abroad. After this, the Indian company will be able to directly list itself in the stock markets of seven countries including the US, UK and Japan.

The government will include more countries in this list of seven countries. At present, Hong Kong is not named in this list because the relationship between India and China is quite bad. Many companies have chosen Hong Kong for listing, which is a major financial hub in Asia.

According to information received from sources in Times of India, several exchanges operate from the International Financial Center of Gift City. Their tie-up is from overseas markets. In such a situation, shares can be facilitated to trade abroad.

For example, if BSE and NSE have tie-up with SGX, it may lead to trading in the shares of the Indian company in Singapore with the exchange of Gift City.

According to a market expert, “It will also benefit many startups, who are not making any profit while wanting to raise capital by listing at a premium.” The government is showing activeness in listing in foreign countries. Earlier, many concerns were raised about this step.

For this, the Modi government has changed the Companies Act, after which the Finance Ministry has also issued several guidelines. Then for unlisted companies, the Ministry of Company Affairs and SEBI have changed the rules of listed companies.

The government is going to set several rules for global listing, which will include net profit or working profit for three years or the company must have fixed assets of paid-up capital.

According to sources, the Ministry of Corporate Affairs is in talks with several investment bankers, Indian companies and the Indo-American Business Council. Listing abroad can improve India’s image on the basis of ease of doing business.

Read this too: https://capitalboat.in/uday-kotak-this-is-the-right-time-to-invest-in-india-the-possibility-seen-in-these-sectors/

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