India to woo global institutional investors

Modi to hold meeting with institutional capital sources; 15 major fund houses to be tapped for funds

At a virtual meeting this week, Tarun Barjaj, secretary of the Department of Economic Affairs, announced Prime Minister Narendra Modi’s plans to attract long-term infrastructure financing to India.

“The prime minister himself is soon going to meet about 15 leading houses from around the world to have an interaction and have their views,” Bajaj said at the Confederation of Indian Industry (CII) event.

“Fund houses from all over the world are in touch with us and want us to provide good assets and required patient capital (long-term capital) with not very high, but stable returns. We are working towards it.

“We are working in terms of how much money can come from the government sector and how much is required from the PPP and what are the various models of PPP that we can work on,” he said.

The CII chairman Chandrajit Banerjee commented: “This is a good signal for foreign funds to be invested and interested in the India story.”