Special Features
Non-Indians Can Invest In Indian Stock Markets Under Indian Government’s ’Qualified Foreign Investors’ Plan: Barjeel Geojit
Barjeel Geojit Securities LLC, the award-winning financial monetary intermediaryy in the UAE region, is all set to act as a facilitator in the Government of India’s newly launched ’Qualified Foreign Investors’ (QFIs) plan, which for the very first time allows non-Indians to invest directly in Indian capital markets through authorized brokers.In a major policy decision, the Indian Government announced in January 2012 that Qualified Foreign Investors could directly invest in Indian equity market, as part of the government strategy to widen the class of investors, attract more foreign funds, reduce market volatility and to deepen the Indian capital market.
In the recent budget submitted by the Finance Minister, it has been proposed that the Government of India will also allow QFIs access to the Indian corporate debt market. QFIs can be individuals, groups or associations based outside India. This move, when implemented, is expected deepen the India’s shallow bond market and also open up a lucrative avenue for foreign individual investors who are keen to participate in India’s high yielding debt market.
Speaking at a Press Conference in Dubai to explain the significance of the QFI scheme, Sheikh Sultan Bin Sooud Al Qassemi, Chairman of Barjeel Geojit Securities, said: "As the pioneers in developing customized solutions for investors in Indian markets, Barjeel Geojit is ideally qualified to act as the facilitator in the QFI scheme. For the first time, non-Indians, including Arab business houses & high network individuals can tap into the promising Indian capital markets. This presents a promising investment avenue, because every financial pundit bets on India to be the top economic powerhouse of the world."
Mr. C. J George, Promoter and Managing Director of Geojit BNP Paribas India, said: “The QFI announcement marks a milestone in the history of Indian capital markets. More importantly, foreigners who want to share the India success story now have the opportunity to do so by investing directly in the Indian equity market through an authorized broker. Barjeel Geojit is fully geared to guide people of all nationalities in the UAE to invest wisely in listed companies and earn long-term rewards. We are sure thousands of non-Indians in the UAE will be keen to take advantage of the QFI bonanza.”
Geojit BNP Paribas India, headed by C. J George, is one of the SEBI-registered qualified Depository Participants (QDP) offering the QFI services. Barjeel Geojit Securities was promoted in the UAE by Sheikh Sultan Bin Sooud Al Qassemi, Geojit BNP Paribas Financial Services Limited. K V Shamsudeen, being the founder director of the company.
Barjeel Geojit also announced that it was awarded the Best Performing Financial Advisor award in NRI category at the prestigious CNBC-TV18 Financial Advisor Awards 2012 which were presented on March 12 in Mumbai. This is the second consecutive award won by Barjeel Geojit Securities in the annual CNBC-TV18 Financial Advisor Awards.
K V Shamsudeen, the Founder Director, Barjeel Geojit, remarked: "The Financial Advisor NRI award goes to prove that commitment and excellence are always rewarded. Our core objective was to serve our clients with first rate investment products. Over the years, we have fine-tuned this philosophy, and as a result we have gained a phenomenal reputation and loyalty in the UAE. Barjeel Geojit will put to good use our rich experience in helping QFIs now."
Commenting on the award, Krishnan Ramachandran, CEO, Barjeel Geojit, said: "Barjeel Geojit Securities is delighted to be honoured for excellence as a financial advisor in the Gulf. We are proud that we are receiving this award for the second consecutive year. We feel this is a recognition of efforts to educate people across all classes of society and guide them on investments and the benefit of regular investments. The award is timely because we are set to play a major role in the newly launched QFI scheme of the Indian government."
