India Inc has favoured the country setting up a sovereign wealth fund to service the needs of fast growing economy, especially the infrastructure sector, says a survey.
A majority of the respondents surveyed pegged the size of sovereign wealth fund (SWF) at USD 50 billion, the survey by industry body Assocham said, adding that the fund structure should be based on a public-private-partnership model.
Over 80 per cent said that it may be used to acquire assets globally for India's long-term energy and resource needs.
About 95 per cent respondents said the sectors to be benefited from acquisitions made by SWF will pertain to oil and gas, coal and infrastructure.
"With the current growth, India will need to secure its energy needs of the future," it added.
It said that India is the only BRIC nation that does not have a SWF.
"China, Singapore, Saudi Arabia, Norway, Kuwait and Russia are among top countries that have large wealth funds to make investments abroad," it added.
It said that SWFs are becoming increasingly important in the international monetary and financial system.
"The sectors to be benefited from acquisitions made by SWF will pertain to oil and gas, coal and infrastructure," it added.
Source: http://articles.economictimes.indiatimes.com
A majority of the respondents surveyed pegged the size of sovereign wealth fund (SWF) at USD 50 billion, the survey by industry body Assocham said, adding that the fund structure should be based on a public-private-partnership model.
Over 80 per cent said that it may be used to acquire assets globally for India's long-term energy and resource needs.
About 95 per cent respondents said the sectors to be benefited from acquisitions made by SWF will pertain to oil and gas, coal and infrastructure.
"With the current growth, India will need to secure its energy needs of the future," it added.
It said that India is the only BRIC nation that does not have a SWF.
"China, Singapore, Saudi Arabia, Norway, Kuwait and Russia are among top countries that have large wealth funds to make investments abroad," it added.
It said that SWFs are becoming increasingly important in the international monetary and financial system.
"The sectors to be benefited from acquisitions made by SWF will pertain to oil and gas, coal and infrastructure," it added.
Source: http://articles.economictimes.indiatimes.com
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