London, November 27:

India is now a favourite venue for board meetings of large multinational corporations (MNCs). The trend, arguably started by Britain’s East India Company’s court of directors in the 17th century, has gathered global momentum in the past year, as directors of many of the world’s largest companies descend on India for reconnaissance trips. The HSBC, the Britain-based banking group, last week flew its 19-strong team of CEOs to New Delhi for the board meeting.