Indian cos hold meetings with potential Gulf investors

Dubai, Jan 29 (UNI) Eight Indian companies listed on the Bombay Stock Exchange with a combined market capitalisation of almost eight billion dollars held a series of meetings and presentations with potential Gulf investors to India.

The event, the 'East-East Investment Forum', was an initiative of banking giant HSBC for potential investment and business partnerships between the Gulf and the subcontinent.

Mr Niall Booker, Deputy Chairman and CEO of HSBC Bank Middle East, said the tremendous growth in both the Gulf and Indian economies is driving the interest in cross-border investments in Indian companies and markets.

''The purpose of the East-East Investment Forum is to introduce Indian issuers to Gulf investors,'' he said in a statement yesterday.

With over 60 investors attending the session from four different countries in the Gulf, the bank believes that it was able to strike a chord with both groups, he said.

HSBC sees East-East as a major economic trend in the 21st century, with the large investable pools of liquidity in the Gulf being increasingly deployed in the rapidly growing economies of Asia.

UNI