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

India: Sovereign wealth for energy assets?

Posted on 24 March 2010

From Financialexpress.com: The petroleum ministry has mooted the idea of a sovereign fund to help finance acquisition of energy assets by Indian companies abroad. The ministry has proposed setting aside a part of India’s $254 billion forex reserves for this purpose.
This is a welcome move because it would help Indian companies like ONGC Videsh (OVL) to take on competition from their Chinese counterparts that are backed by a similar fund created by the Chinese government……………………………..Full Article: Source


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