London, Feb 4: Symbolising the growing commercial and economic links between Britain and India, Union Finance Minister P Chidambaram today formally inaugurated the newly-built London Stock Exchange (LSE).
"I believe the road to prosperity is through investment," said Chidambaram, who opened the Stock Exchange by setting in motion 'The Source', LSE's dynamic sculpture positioned in the main atrium of its new building at Paternoster Square.
Chidambaram, who is here to participate in the G-7 meeting of Finance Ministers, said, "We are happy 18 Indian companies are listed on this market and I believe more will join in the near future."
Referring to the close economic ties between the two countries, he said in the current fiscal, there were as many as eight visits from the London Stock Exchange to India.
The Minister hoped that there would be greater two-way investment between India and Britain.
The 18 Indian companies listed on the markets have a total market capitalisation of 2.94 billion dollars.
In addition, there are nine Indian companies with depository receipts traded on the exchange.
In 2004, two Indian companies -- ACC Ltd and Amtek Motors -- successfully raised funds in excess of $ 100 million when they issued depository receipts on the exchange. (Agencies)
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