Wednesday, November 16 2005 15:29 Hrs (IST) - World Time -

New Delhi: All praise for N R Narayanamurthy and his company Infosys, premier US stock exchange Nasdaq yesterday (Nov 15, 2005) invited more Indian firms to get listed in the bourse to graduate into global corporation.

Addressing the Hindustan Times Leadership Summit, Nasdaq International head Charlotte Crosswell praised Security and Exchange Board of India (SEBI) for the regulatory regime that 'is comparable with best in the world.'

With a market capitalisation of 510 billion dollars, she said the Indian capital market has overtaken Korea and Taiwan.

After Indian economy rebounded strikingly from the global slowdown, she said, "Many Indian companies are now well positioned for domestic and international IPOs."

Indian companies are now in the radar of global investors who are chasing new growth opportunities.

"What is attracting foreign investment into India is the fact that Indian markets are clearly well regulated and adopted efficient trading, clearing and settlement process," she said.

The Nasdaq official expressed surprise at the fact that 125 Indian companies, including PSUs and banks, have adopted the stringent accounting procedures of US GAAP.

Nasdaq, which had opened an office in Bangalore in 2001, will assist not only the listed companies but also those willing to list their shares in the US bourse, she said.

For graduating into a global corporation, Crosswell said a company must be resilient to uncertainties, professionally managed, have deep knowledge of the market and list its share.

Listing abroad helps a company to develop a global reputation, establish credibility and increase visibility to investors, she opined.

In this context, she cited the example of Infosys along with other global giants like Microsoft, Intel, Cognizant and Syntel.