Indian corporates consider the US, Singapore and the UK as the top three most strategically important countries for new sources of investment over the next five years, according to a survey by BNY Mellon.
The survey says 92 percent of Indian corporates ranking the US as the number one country, with 89 percent putting Singapore second and 79% putting the UK in third.
In 2012, India topped the table as the most strategically important source of new investment.
Neil Atkins, BNY Mellon’s Asia Pacific head of depositary receipts (DRs), said: “While Indian companies continue to raise money at home, there has been an acute shift in their geographical outlook towards international investment.”
“[When] Narendra Modi swept to power in India’s general election in May [2014] on the promise of reviving the country’s economy…India could be poised for economic and financial reform which could make it easier for Indian corporates to access competitively prized international capital.”
The results of the survey suggest that the number one investor relations goal for companies in India over the next five years is to increase international shareholder ownership.
Atkins added: “[Over-the-counter] non-capital-raising DRs will soon be a new channel for Indian corporates…This development is timely and could be significant to a large share of Indian companies seeking to increase their international ownership and with investor sentiment toward India buoyant.”
“We may see more Indian companies using DRs to access global markets in 2015.”
