India wants to stop the export of its financial markets, or does it?
The policy missteps are not restricted to equities. Both over-the-counter and exchange-traded markets for the dollar-rupee have gradually moved offshore
In theory, theory and practice are the same; in practice, they are not—or so goes the saying. This dichotomy is starkly seen in India’s policy missteps when it comes to developing vibrant and liquid financial markets onshore.