| Russian sovereign wealth fund Rusnano Management Company will create a $2-billion (Rs 13,000 crore) fund with equal contribution from Indian financial institutions to invest in joint venture companies formed between the two countries which will develop defence and aerospace equipment with high-end technology , two persons with direct knowledge of the development said.
"We will invest up to 49% in the joint venture company and the rest will be owned by the Indian partner," said one of the persons."We will also transfer critical technology to the joint venture in both defence and aerospace. The entire plan is part of the Make In India initiative." The fund will be a subset fund of the National Infrastructure Investment Fund (NIIF) launched to invest in new infrastructure companies and stressed ones which are starved of capital...............................................Full Article: Source
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