14.10.2011 - Indian sovereign wealth fund to encourage foreign investment by PSUs
The government on Thursday decided to constitute a dedicated sovereign wealth fund "in due course" in the Cabinet's strategic policy decision to let the central public sector undertakings (PSUs) invest abroad in mines, agriculture and other sources of raw material assets. Though an official press note on the Cabinet decision is silent on purpose of the sovereign wealth fund, it is basically meant for funding the PSUs for investments in foreign assets. The cabinet is also said to believe that SWF will also come handy in raising money for such investments from seizure of the Indians' black money locked in foreign assets and banks..............................................Full Article: Source
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