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

India govt drops proposal for creating $5 bln sovereign wealth fund

Posted on 11 August 2010

From Indiatimes.com: The government today said it has dropped the idea of creating a sovereign wealth fund for financing company acquisitions abroad, as it felt that Indian firms had enough money for foreign takeovers.
“It was decided not to pursue this proposal (of setting up a sovereign wealth fund). It was felt at that time that a number of avenues for funding of acquisition abroad were available and that money was not a constraint for Indian companies to acquire assets/companies abroad,” Minister of State for Finance Namo Narain Meena told the Rajya Sabha……………………………………….Full Article: Source

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