Fertiliser ministry has sent a proposal to finance ministry for creating a sovereign wealth fund. This fund will help the government as well as private companies in the acquisition of mineral assets abroad.
“We have sent a proposal to finance ministry for setting up this fund. The ’size’ of the fund will be decided by the finance ministry,” said fertiliser secretary Ajay Bhattacharya. The fertiliser industry has been lobbying for a sovereign fund to support acquisition of assets overseas to bring down dependence on import………………………………………..Full Article: Source