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

India plans sovereign wealth fund for energy assets abroad

Posted on 26 May 2011

Montek Singh AhluwaliaPlanning Commission is now setting its eyes on a sovereign fund to acquire energy assets around the globe. The government is planning to set aside $10 billion for the fund. Moreover, 2-5 per cent of India’s forex reserves may be set aside for the fund.
“We have been asked to look into the feasibility of setting up such a fund for energy assets. Given the present resources situation a fund like this is necessary. I believe a paper has been prepared and will be examined by the group of ministers,” said Montek Singh Ahluwalia, deputy chairman of Planning Commission……………………………………….Full Article: Source

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