India finds some forward momentum

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Against a backdrop of tight regulations prohibiting the use of over-the-counter equity derivatives and high barriers to entry for foreign banks, India’s structured products market has lagged behind its regional counterparts. Equity-linked notes, the cornerstone of the structured products market, were only introduced in 2006, a mere two years before the credit crisis wreaked havoc with investor appetite.

“Structured products in India are a relatively recent phenomenon dating back to the launch of

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