One of the few

With a steady stream of banks targeting India’s nascent derivatives market for expansion, Reliance Industries’ treasurer, Alok Agarwal, gives his views on the development of the Indian market. Mia Trinephi reports from Mumbai.

When bankers scour their contact lists for Indian corporate treasurers to do derivatives business with, the chances are that Alok Agarwal, Reliance Industries’ Mumbai-based treasurer, will be among the first called. Amid a highly regulated market and a constant thirst for plain vanilla, fixed-rate investments from India’s sizeable investor base, there’s still only a handful of Indian corporates regularly active in the country’s nascent derivatives market. But Reliance Industries