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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

India to follow CIC: Big push to acquire mineral wealth abroad

Posted on 12 February 2010

From Hindustantimes.com: India is realising countries such as China have made a headstart in the sweepstakes to control the world’s scarce natural resources market. China is using its $200 billion sovereign wealth fund to acquire raw materials abroad. “This (China’s resource drive) is not only to meet its domestic requirement but for controlling the natural resources of the world in the long term,” the official said.
The Indian government is putting together a comprehensive policy framework that includes setting up of a dedicated fund and specialised cell to help state-owned companies acquire these strategic resources………………………………….Full Article: Source

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