The government has modified the FDI policy allowing unlisted companies
to directly list on stock exchanges abroad. The move will facilitate
raising of funds for acquisitions or clearing overseas debts. It may
help India in containing its high current account deficit. Presently,
unlisted companies are not allowed to directly list in overseas
markets without prior or subsequent listing in the Indian market.

The Department of Industrial Policy and Promotion said that
necessary changes have been made in the 'Consolidated FDI Policy' and
the scheme will be implemented on a pilot basis for a period of two
years.