l6 p3 bop capital qe ft gift city.1.1
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Current Account Defcit
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Capital Account:
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1. Abolish FDI vs FII
i!erence2. Fe taperin":
#$chan"e ratestabilit%
3. &IF' cit%
(. F)*#+ reservelie China-
Capital Account: L3/P1, P2
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ariousliits
Di!erenceabolishe
FIP0
FDI/FII
eanin" Ipact on
Inian#cono%
F'/#
China (trill, ho4-
Iniatar"et567 bn.
Fore$ *eserve
F c
s
&
Capital Account: L3/P1 an L3/P
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CopaniesAct
2713
)ne person
Private lt.
28277
Public Lt.58unliite
Lis
o
In
nl
;oia
6
'%pes o9 copanies: a%ara FII
17< or FDI=17: FP
An%investent
FDI
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@ill eliinate istinctionbet4een FDI FII
Bust a coposite cap e.". (althou"h scientifc
Eournals M 177
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#conoicA!airs>Chairan?
DIPP>polic%8
prootion?
Dept.
Coerce
#conoic
relations>#A?
Prelis: FIP0 has 9ollo4in":
Forei"n investent prootion boar FI
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FIP0 J &overnent approval, unDepartent o9 econoic a!airs,FI;I;.
pto 1277JK FIP0JKfnin clea
0e%on 1277 Cr JK cabinetCoittee on #conoic a!airs cl
Forei"n investent prootion boar FI>Gecretar%?
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#$ternal Debt: &DPJ 2(< >ana"eable
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#$ternal Debt
#
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Gource 'op 3: Coercial0orro4in" K ;*I epositsKultilateral bans.
Coposition o9 Debt: K *upee KGD* K en K #uro
Lon" ter ebt K Ghort ter
;on8&overnental ebt K&overnental Debt
Increase 9ro arch 2713 to 271(
ra
#$
C i l 3 3
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ariousliits
Di!erenceabolishe
FIP0
FDI/FII
eanin" Ipact on
Inian#cono%
F'/#
China (trill, ho4-
Iniatar"et567 bn.
Fore$ *eserve
F c
s
&
Capital Account: L3/P1 an L3/P
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#, F' Q #$chan"e ra
uctuations1.R&G2S #!ect o9 policies an politics o9evelope an evelopin" countries on interests
2.1st 4orlTs lo48interest rate policies anOuantitative easin", are unleashin" fnanturoil on eer"in"8aret econoies.Discuss in conte$t o9 Inia
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P*I#0)**)@#*G
GecuritiUationJK
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G0P*I#0)**)@#*G
G0P*I0)**)@
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G0P*I#0)**)@#*G
G0P*I0)**)@
')+IC Assets ')+
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G Fe *eserve0en 0ernane
'reasur%bons an
'o$ic Assets
6 0illion per >Dec V13?
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Hot one% o4Inia
1: 3 *u ees
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@hen to stop #-Ination K2.6ill.GD?
*0I Fore$ reserve &rauall% au"e
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% "
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IniaTs Fore$coponents
currenc%, &o*eserve 'ranPosition >*'P
Aon" the econoies 4
current accoefcit, Iniasecon lar"ee$chan"e re
holer a9ter
1 Chinese [ercantile Polic%\
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Chtr
H
1. Chinese ercantile Polic%
2. Iports restraine >L/P1.ppt$?
1. I':G)# control aret
2. Phara: inorinate ela% inclearance
3. Foo: GPG a"reeent.
(. F&: oestic too cheap
3. #$ports proote:cheap loans,subsiies, tech., coal8steel8rareearth, Labour abuse.
re
&(&&le )ra! -o"orola *
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&(&&le )ra!fa*"or+ Do(&le 'if"
ren"
in *an"een !a+ foro )or ola, e!lo+ed 1
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in *an"een !a+ forfood in(red 09
o 'o*ial 'e*(
1. Fo$conn8 iphone aer copan%,
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1. Fo$conn iphone aer copan%,Henan province. K2 lah i"rants
2. 'oilet brea [nee 4ritten perit\
9ro 9orean3. )vertie usuall% not "iven. 16
hrs a a%
(. onthl% salar%: 267, but
nothin" le9t to sen Yhoe.
6. 0ut 9or copan%, labour costinial.
L
a
1. #$ports: hi"h
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Chtr
H
1. #$ports: hi"h
2. Iports: lo4 M restraine.
3. '*AD# D#FICI' G*PLG
(. Current ACC);' D#FICI'G*PLG >277 billion?
6. CAPI'AL Defcit: reinveste
in GA Q else4here >8 0illion?. 0oP surplus: 2778J17(
billion
re
I9 0oP surplus8 central ban shoulh h >ill GD?
Inn
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0alance o9 Pa%
purchase those >ill.GD? purchase to stop uan appreciation
n
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1. Chinese ercantilis Polic%: restrain
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iports, boost e$ports, bu% to eepuan 4ea J lar"e 9ore$ reserve.
2. 0ut subseOuent istortion o9 fnancialan e$chan"e aret a% hurt Chinaurin" crisis >e.". another # /slo4o4n in G or # aret, 'A'IP,
'PP?
3. IF 4ea, hv2 print ore %uan to"et stron"erJK D)#G'ICh%perination.
Gp
re
ChinaTs Lar"e 9ore$ reserve J "eo8
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Gp
strate"ic avanta"e
Fore$ reserve >1? har po4er >2? so9tpo4er
#ven helpin" other nations 9acin"fnancial crisis >Go9t po4er?
proviin" ultilateral assistance
>0*ICG AII0 sil roa/belt?Inia too shoul tar"et 567 billion to1 trillion in lon" run via currentaccount surplus.
re
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Current Account efcit
DEF
ICIT
SURP
LUS
DEFICIT
SURP
LUS
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Current Account efcit
DEF
ICIT
SURP
LUS
DEFICIT
SURP
LUS
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Current Account G*PLG
SUR
PLUS
SURP
LUS
DEFICIT
SURP
LUS
F)*#+ reserve:
)nl% 9or prelis: L3/P2.ppt$: *eal e$chan"
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currencies@ei"he &eoetric ean
*##*8*##*83
*##*83
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0aset o9 3 currencies
&eoetric ean >4t. assi"neto a 9orei"n currenc% as pertrae iportance 4ith Inia?
*##* K 177 eans
overvalue currenc%W*##* J X 'raecopetitiveness
W*##* J X 'rae copetitivene
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Gae perio 41 4ent 9ro ( *s.
Capital Account: L3/P1 an L3/P
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ariousliits
Di!erenceabolishe
FIP0
FDI/FII
eanin" Ipact on
Inian#cono%
F'/#
China (trill, ho4-
Iniatar"et567 bn.
Fore$ *eserve
F c
s
&
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1. Gip 2. Attept
Prelis: o4ners, location, 9eaturerules
&G3: ibrant fnancial arets acritical to a countr%Ts &DP "ro4th#$aine the iportance o9 propo
&IF' cit% in this re"ar, Q iscusschallen"es in its setup. 277 4ors
Lonon, ; an Gin"apore 3 bi""est Intl. Fin.
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@hat is 0alance o9 Pa%ent-
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Capital
0oPJK Capital part.
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[investent\
*esients to 9o
countr%;on8resients Inia.
0ut 4hat abousettin" up a plhelp [non8resiinvest in non8I
countries-
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so/
e
inco/in
"
Dubai international fnancial cen
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1. 7< ta$ on incoe Q proft 9or 67%ears_ Inia unclear D
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%ears_ Inia unclear.
2. D'AA 4ith ost nations.
3. 177< FDI an o4nership inever%thin". >Inia: soerestriction on stoce$chan"e/insurance cos.?
(. Full capital AC. Convertibilit% Minvest an pull out one% incurrenc% o9 %our choice.
Db
1. Inepenent Euicial s%ste,l i ith 1 l l D
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copl%in" 4ith 1st4orl la4s.
2. hi"h spee net, transport.
3. Gille pro9essionals, Ouicvisa processin" an 4orperits in sin"le 4ino4.
(. Art "alleries, restaurant,9ashion, vibrant social /clubli9e, apartents, hotels
Db
&uEarat Intl. Financial 'ech Cit%:o4ne b% &IF' Copan% lt
&
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o4ne b% &IF' Copan% lt.
B bet4een &B urban evelopent
co. lt an ILQFGIn9rastructure Leasin" Q FinancialGervices Liite >ILQFG?:prooteurs8 Central ban o9 inia,
HDFC, 'I, G0I, LIC et al.Bapan an Abu habi invententcos.
Inc
[&reenfel\business cit% in&anhina"ar istrict
&
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&anhina"ar istrict
Gart cit% J autoate 4aste
collection s%ste, centralisecoolin", civic anesties usin" IC'
ain attraction M iaon to4er o9 store%
0u"et82716: 4ill proote &IF'cit% as intl.fnancial service centre>IFGC?
Intl fnancial
&IF' cit% Financial G#^: 2 set o9 r
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D#GI
Alrea%present:G#0I, I*DA,
*0I
Intl. fnancialservices
centre >IFGC?
G#0I
*0I>Cap.AC?
I*DA
All investors /operators are [non8resientInians outsie Inia\ 9or ta$ purpose
&
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Inians outsie Inia 9or ta$ purpose
Invest in He"e 9un>Alternateinvestent 9un? an utual 9uns 0'
in 9orei"n currenc% onl% >L2/P1?erchant ban, Depositor% receipts,stoc e$chan"e]%es but nors onin.capital etc.
;G# 4ill setup international e$chan"e 9ortrain" o9 shares, bons, currencies anerivatives
"u
Forei"n bans can setup unit %es
I i b ith 9 i
&
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Inian bans 4ith 9orei"npresence, can setup units]%es
#ach ban can setup onl% 1 I0*etail custoer- CanTt tae
*upee eposits- CanTt tae
C**, GL* applicable- %es.ust have 27 il. Capital tobe"in
b
un
1. *0I to allo4 9orei"n currenc%transaction uner F#A
&
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transaction uner F#A.
2. 0', Full capital account
convertibilit% neee.3. )nl% then IFGC possible, sai
Perc% istr% Coittee >2775?
(. *0I D%.&ov e$plorin" rela$in"
Cap.AC >2716?6. *e9: L3/P2.ppt$ 9or Pros an Cons.
cha
1. &G' %et to ipleent.>service ta$-?
&
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>service ta$-?
2. Hv2 Abolish e$istin" acts
3. oi9% I' act to "ive 7< ta$on incoe, proft, capital"ains 9or (7867 %ears- @hat
i9 re"ie chan"e-
cha
1. Alternate ispute resolutions%ste neee
&
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s%ste neee.
2. Perc% istr% : nife
Financial oerniUation Act
3. FGL*C M 0; Ghririshnacoittee recoene M
Inian fnancial coe >IFC?
cha
oel 9or sart cit%
[#$perientation\ on IFC Full
&
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#$perientation on IFC, FullCap.AC, be9ore ipleentin" YAll
Inia level.Fli"ht o9 capital X
`no4le"ebase 9ro ;C8+P
ore 4hite collar Eobs
'ricle o4n in the re"ion >ATba,&T;a"ar: banin"/fn./I'/0P) boo? 86 lah Eobs
0
: ibrant fnancial arets are critical to a
ains / Intervie4-
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1. Gip 2. Attept
: ibrant fnancial arets are critical to acountr%Ts &DP "ro4th. #$aine the iportapropose &IF' cit% in this re"ar, Q iscuss
challen"es in its setup. 277 4orsA"rarian #cono%JKF&JKGervice
;C "iant H, outsource to lo4 sill natInia too 4ill reach that sta"e. ;ee to be
Developent no4.;o &IF' cit% J Fli"ht o9 capital to other I
es &IF' cit%J I0, investent, Eobs, s
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