HSBC has launched FASTrak, a simplified one-stop solution that significantly reduces Indian market entry challenges for foreign investors.
The automated tool is the result of extensive feedback from foreign portfolio investors (FPI), who cited documentation-related challenges, procedural issues and a time consuming registration process as some of the key issues faced while investing in India.
Speaking about the launch, Kapil Seth, Head of Securities Services, HSBC India, says: “India is one of the fastest growing global economies and has been on investors’ radars recently. However, while it has attracted a significant number of portfolio investors, a challenging and time consuming registration and documentation process has proven a significant deterrent. I believe FASTrak will be incredibly valuable for our clients in terms of helping access India, thereby improving investment flows into the country.”
The automated tool significantly reduces market entry challenges of foreign investors through the quick identification and storage of key documentation. FASTrak firstly enables an investor to categorise themselves in line with FPI requirements and subsequently provides a complete list of the applicable required documentation. Investors can then complete all documents, with validation checks and assistance at various stages, and store everything on a single platform.
The existing registration and documentation process takes about one month on average, while FASTrak is expected to cut this time significantly.
“We are proud to launch FASTrak in India and continue to support the country’s aim to increase foreign investment into the country,” adds Seth.