Standing Council on international competitiveness of the Indian Financial System
In June, 2013 the Department of Economic Affairs,
Ministry of Finance, constituted a Standing Council of
Experts to assess the international competitiveness of the
Indian financial sector. The objective of the Standing
To analyse the performance and competitiveness of the
Indian financial markets in fully meeting client needs as
per global standards;
To examine the various pecuniary and non-pecuniary
costs in the Indian financial markets and to compare them
with a competitor market;
To suggest reform measures aimed at enhancing
development, governance and transparency in these markets
while ensuring that risks are contained and investor
interests are protected;
To deliberate and advise on any other matter
related to the above objectives.
The Standing Council has tasked the Finance Research
Group at IGIDR with the responsibility of providing
technical research-based inputs for its work. This
report is the first volume of work done towards
fulfilling the Standing Council's objectives. It
assesses the international competitiveness of the three
derivatives markets in India: currency derivatives,
equity derivatives and commodity derivatives.
Volume 1: The international competitiveness of currency, equity and commodity derivatives
Department of Economic Affairs, Ministry of Finance
Quarterly updates seek to track the competitiveness of the market segments reviewed by the Standing Council on an ongoing basis. Each quarterly update has three parts: (1) an analysis of how the Indian markets are faring with respect to their global competitor markets; (2) an update on the implementation status of the policy recommendations made to the Standing Council; and (3) an analysis on a subject relevant to the Standing Council work areas.
- January - March, 2015 update
Analysis: (1) Budget 2015: impact on factors of international competitiveness; (2) Merger of SEBI with FMC: possibilities and challenges.
- Budget goodies for GIFT, markets likely by Dilasha Seth, Arup Roychoudhury, Business Standard, 11th January 2016
- To internationalize the rupee or not? by Rajeswari Sengupta, Bhargavi Zaveri, Mint, 02nd December 2015.
- Will India ever have an IFC or be internationally competitive? Mint, 05th October 2015.
- Perils of excessive speculation. Mint, 01st October 2015.
- Is India a hospitable environment for India-related finance by Anjali Sharma, Kanwalpreet Singh, Rajat Tayal, Rohini Grover, Susan Thomas, Ajay Shah's Blog, 28th September 2015.
- Govt panel suggests reforms in domestic markets. Mint, 08th September 2015.
- Panel makes a case for globally competitive financial sector. The Economic Times, 08th September 2015.
- Government panel submits financial sector reforms report. dna, 11th September 2015.
- Panel calls for internationalisation of rupee, on lines of Chinese renminbi. Indian Express, 08th September 2015.