In fact, alignment of incentives for non-residents to gradually move to the domestic market is an important regulatory aim. As you would be aware, the Task Force on Offshore Rupee Markets with Mrs. Usha Thorat, former Deputy Governor as chairperson, has made important recommendations that are likely to improve participation of non-residents in the onshore market.
Our aim is to make the onshore market more accessible and attract higher transaction volumes. External Headwinds and Domestic Financial Stability 22. With increased trade and financial linkages with rest of the world, India has become more susceptible to the vagaries of heightened global economic uncertainties.