Today is a great day for India and NSE: Ashish Chauhan

economictimes.indiatimes.com:

«So naturally, people have now larger exposure, even in debt for the Indian economy. That is where basically they may want to have hedging instruments, like corporate bond index futures or even government bond futures,» says Ashish Chauhan, MD & CEO, NSE.For NSE it is like Diwali has come three months early right, it is that kind of a moment.In a way this was a long cherished dream to bring the markets on shore from where they had gone which is called offshoring and of course there were strategic reasons for a country to have pricing of its assets, especially important assets like markets and that is what the IFSC was created for to compete with the best and the brightest international services zone like Singapore or Dubai or Hong Kong.

And that is where the Gift City has been created to not only raise funds for India's growth but also bring the pricing, price formation of Indian products where India is hugely interested in dollar terms and run all the time zones so that we are in a way in control of our destiny. So that is where I think today is a great day for India and of course, a great day for NSE too.So theoretically nothing changes but technically a lot changes. So what is the technical part which will change now that it has become Gift Nifty?In a way for people who are trading through Singapore, there are many of them who have not registered as FPIs in India and for their own reasons.

And they may never actually register with India but many of them want India exposure either continually or in parts or for certain periods, and that is where they try to trade through Singapore which will continue. Today, if a person in Indonesia is taking exposure on Nifty in Singapore, he or she will be just placing the order as