Flagging off the Year 2012 on a liberalization note, the government of India has allowed Qualified Foreign Investors (QFIs) to directly invest in the Indian equity market.
The decision comes due to sustained outflow of FII investment from Indian equity market which has resulted in rupee volatility by depreciating Indian currency by 16% in 2011.
http://goindocal.com/business-%BB-market-fiis-withdrew-4-billion-from-indiago-3390.htm
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