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India Opens Stock Markets to ForeignersJanuary 2012 The Indian Government announced the opening of its stock markets to foreign individuals who would be able to directly buy and sell shares subject to certain terms. The reform aimed to boost foreign investments follows a sharp decline of 25% in Mumbai stock market last year. The reform will take effect from January 15, 2012. BP Oil and Gas Partnership in IndiaFebruary 2011 BP and Indian Reliance Industries Limited announced on February 21 a historic partnership between the two companies. According to the partnership agreement BP will take a 30% stake in 23 oil and gas blocks in India. BP will pay Reliance Industries $ 7.2 billion. The payment which is subject to future performance could amount to $ 20 billion. The oil and gas blocks cover an area of around 270,000 square km. BP's transaction is one of the largest foreign direct investment in India. |
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