Kochi, June 21 (IANS) Financial services company Geojit BNP Paribas Thursday launched its Qualified Foreign Investors (QFI) Investment service to attract cash-rich Arab investors to Indian stock markets.
As a qualified depository participant (QDP) approved by the market regulator, SEBI, across the two depositories CDSL and NSDL, the company will cater to the investment needs of foreign investors through its network of joint ventures in UAE, Saudi Arabia, Oman, Kuwait and Bahrain.
Managing director C.J. George said the Indian economy, seen in the context of the global financial turmoil, offered tremendous long-term investment opportunities to foreign investors who are looking for diversifying their investment portfolios.
"We have a strong presence in the Middle East through our partnerships and this new investment service will attract many investors into our country," said George.
In a major initiative to attract foreign capital and stabilise rupee, the Indian government had last month permitted QFIs from the Gulf nations to invest directly in stock markets.
Through the QFI route, both institutional and retail investors, including private banks and their clients, hedge funds, pension funds, family offices, broker-dealer for proprietary trading desks, partnerships, firms and individuals can invest in Indian stock, bond and mutual fund market.
Investors from 45 countries can enter via the QFI route including China, Hong Kong, the UAE and Oman.
Geojit BNP Paribas Financial Services has a strong presence in the Gulf with BNP Paribas, one of the six strongest banks in the world, the main shareholder.
Recently, Geojit BNP Paribas in alliance with finance ministry had organised a road show -- India: The incredible Investment Destination - in Dubai, Oman, Kuwait and Bahrain.
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