A lack of certainty about India's investment environment is
a long-standing and near-universal complaint. While the
Securities and Exchange Board of India (Sebi) and Reserve Bank
of India (RBI) seem to recognise this problem, their actions
are missing the point – more rules aren't helping.
For example, new regulations allowing private Indian
companies to list overseas for a trial period of two years have
somehow created more confusion. While these rules...