Treasury & FX in India
There is the India of uncertainty due to the forthcoming election and escalating tensions with Pakistan over Kashmir. However from a policy perspective regarding business although the election has meant a slow-down in de-regulation, whoever wins the election, there is commitment to continue this process.
The other India is the India of everyday business – which continues irrespective of the headlines and the continued evolution of a massive and growing market. Everyone on the call represented companies who recognise this. As well as illustrating the commitment of companies to the India market, the call also highlighted that:
Documentation remains challenging and keeping track of regulation remains a problem.
The regulations for external commercial borrowings (ECB) have eased.
Companies are using both NDFs and onshore hedging but there is debate as to which approach is more efficient.
Repatriation of cash remains an issue
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