Finance Minister Nirmala Sitharaman said in her Union Budget speech on Friday that the government is considering organising a global investors’ meet in India. She said the government will use the National Infrastructure Investment Fund to get the top global players on board for the meet.
“It is high time India not only gets integrated into global value chain of production of goods and services, but also become part of the global financial system to mobilise global savings, mostly institutionalized in pension, insurance and sovereign wealth funds,” Sitharaman said. “The government is contemplating organizing an annual Global Investors Meet in India, using National Infrastructure Investment Fund as the anchor, to get all three sets of global players – top industrialists/corporate honchos, top pension/insurance/sovereign wealth funds and top digital technology/venture funds.”
However, Sitharaman did not expound on the proposed investors’ meet. The National Infrastructure Investment Fund is a quasi-sovereign fund meant to attract financing for new roads, ports, railways and power plants, Bloomberg reported. It was created in 2015.
China has its own annual meet – the Boao Forum for Asia, the news network said.