Indian market : Most attractive destination for FIIs

At a time when equity markets are coming under selling pressure, particularly from Foreign Institutional Investors, SEBI said India has become the most attractive destination for FIIs.       "FIIs the world-over are interested in India. During October 07, the number of FIIs in India was 1,000 which has increased to 1,500 during October 08," Securities and Exchange Board of India Whole-Time Member T C Nair said at a conference here.  "India has come to the rescue of FIIs and also help them to compensate their losses," he said, adding that SEBI was doing everything possible to facilitate FIIs in hassle-free investment in the country.  FIIs play a key role in the internationalisation of the securities market. There were more opportunities for FIIs to invest in India. They can even invest in unlisted companies. SEBI planned to introduce interest rate derivatives by January.  SEBI has already introduced currency futures in dollar-rupee. Besides, he said the present global financial crisis would not affect India much. "There is no crisis in the country. It is all due to apprehensions. There is just a spill-over effect" . This apparently shows a good sign towards the future recovery and adding to some extent for compensating the effect of economic meltdown in India.