GOVERNMENT ALLOWING DIRECT OVERSEAS LISTING OF INDIAN COMPANIES, AS FACING I T SECTOR SLOW DOWN AS COMPARED TO PRE -COVID STAFFING AND USE OF THE GENERATIVE ARTIFICIAL INTELLIGENCE REQUIRED TO RETURN YIELD.

The Act of the direct overseas listing of Indian companies has come into force since the amendment of the Act (29of2020) for which the Central Government has made provision of section -5 of the said Act and the Ministry of Corporate Affairs has notified the relevant section under the companies law in this regard on October 30 . The Finance and Corporate affairs Minister Nirmla Sitharaman said that the government has decided to allow domestic companies to list overseas to help them access capital from the world markets. Earlier in May 2020 the move was announced as part of the Covid relief package. Currently, overseas listings by local listed entities are carried out through American Depository receipts and Global Depository receipts however the rules for direct overseas listing of Indian companies are yet to be notified, So now in a significant move, the government has permitted Indian companies to list on foreign exchanges, subject to certain conditions. On the other side the IT sector facing job scarcity after covid -19 pandemic and companies are engaging less staff for the operation of industry prevailed in the last three years and this had given new dimensions to the educated IT professionals and relying on the public sector appointments to get employment opportunities from the technology skills and capabilities to venture into new areas, requiring staff with higher skills.