Nasdaq bullish on India

PUNE: NASDAQ has identified at least 12 Pune companies with potential to be listed on its electronic stock market within a year and a half. Speaking to the media here, Patrick Sutch, Vice President and Managing Director (Asia Pacific), NASDAQ, however, declined to name companies. At the national level, NASDAQ has identified 500 companies with potential for listing. Of these, he said that at least 50 India companies could make to NASDAQ within 24 months. The final figure would depend on how the market behaved at that time. "I am no prophet, so I am not going to predict anything," he said.

Sutch said that the average American investor was looking at companies with exciting growth prospects. He said that NASDAQ was scouting for Indian companies in all sectors. "We foresee a lot of growth in India’s telecom industry but companies in manufacturing and FMCG are also being targeted," he added.

Commenting that there were just three Indian companies listed on NASDAQ currently, Sutch said that the figure could have gone up had it not been for the worldwide fall in the markets.