With incremental opening up of the capital account and the increasing internationalization of Indian Rupee, greater play by global investors in onshore markets would become inevitable. The issue of guidelines for “Masala” bonds and agreeing to open up investment route for foreign investors through ICSDs all point in this direction. The effort would be facilitate this in a non-disruptive manner. 61.
In conclusion, I would like to come back to the theme of intellectual openness in the context of changing role of institutions.