The Union Cabinet on Wednesday approved Companies (Second Amendment) Bill, 2019, to enable listing of Indian companies on stock exchanges in foreign jurisdictions.

The listing of Indian companies in foreign stock exchanges is expected to increase the competitiveness in terms of access to capital, broader investor base and better valuations, said a government statement issued on Wednesday.

The framework for enabling such listing under the foreign exchange and securities laws would be finalised by the Ministry of Finance in consultation with Ministry of Corporate Affairs, Reserve Bank of India and the Securities and Exchange Board of India, the Cabinet statement said.

This Bill will amend the Companies Act, 2013.

First Published:Mar 4, 2020 8:46 PM IST