of prime broking with all attendant conditions is thereby activated for channelising investments to India.
It was once stated that India will look like another emerging market in south-east Asia only when a desire to take exposure on India can be executed within a couple of hours. Step back and enquire of your kith and kin holding foreign nationality the quickest and hassle-free way of taking an exposure on Indian capital markets.
A likely answer will be investment through a PN contract with the local bank where they own an account ie KYC compliant. Surely such money coming into India is not tainted. This is how investments are carried out in several parts of the world. Should we be any different? The two-hour goal for investment in India and its competitive edge would be realised.
The author is a civil servant and ex-ED, Sebi. Views expressed are personal.