Apart from its leading edge in the software services, India is also becoming a major hub for manufacturing and export of manufactured products. The Indian information technology industry is becoming increasingly global through cross-border acquisitions, on-shore contract wins and organic growth in other low-cost locations. This has been complemented by global majors continuing to significantly improve their offshore delivery capabilities in India.
While I have pointed out the importance of disclosure information and statistics concerning financial institutions and financial products, it goes without saying that what is ultimately required is a proper analysis based on such information. During the recent crisis, trust in credit rating information declined. Regarding credit ratings, various problems have been highlighted.