Bharti/MTN transaction, and India's problem of capital controls

Bharati / MTN deal of $23 billion fell through on the question of Dual currency Listings and Capital Account Convertibility issues which the Government of India could not possibly decide on in a hurry. But this important capital control issue needs to be addressed by the Government sooner than later in view of the FDI inflows into Indian capital markets and also India being one of the leaders of emerging markets which has fairly withered the recessionary storm than the developed economies of the world. Here is a link from Dr.Ajay Shah's blog on this issue.

Ajay Shah's blog: Bharti/MTN transaction, and India's problem of capital controls