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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

India said to propose sovereign fund for oil assets

Posted on 17 March 2010

From Bloomberg: India, with $254 billion of foreign-exchange reserves, may create a sovereign wealth fund to help state companies compete for overseas energy assets with China, a government official said.

The oil ministry has formally asked the finance ministry to set up a fund using a part of the reserves, the official said, declining to be identified because a decision hasn’t been reached. The size of the fund is yet to be determined, he said………………………………….Full Article: Source

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