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Pranab Mukherjee From Precy Dumlao, Opalesque Asia:

The decision by the Indian government to open up its economy to foreign investments has indeed improved the standard of living of the average Indian. There is no doubt that the elimination of trade barriers has tremendously increased the productivity of the Indian economy.

However, Atyant Capital, a specialty investment manager that focuses in the Indian equity markets and precious metals and manager of the Indian Fund, said the process has also left some casualties: small hedge funds and small businesses in the country.

In a paper entitled: The Challenge of the Small Indian Business, Atyant explored the investment opportunities in India as well as the implications of opening up to foreign investors.

Since the start of this year, India has introduced several reforms to relax investment rules with the aim of attracting more foreign investors. In early March, India’s Finance Minister Pranab Mukherjee proposed to liberalize the country’s mutual fund industry and open it to direct investment from foreigners. Current Indian law states that only foreign institutional investors (FIIs) registered with the Securities and Exchange Board of India (Sebi) and non-resident Indians are permitted to invest in mutual fund schemes (See Opalesque Exclusive: ......................

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