The government has already planned periodic road shows for attracting investments from big international investors and sovereign funds across the world, said sources. As much as $5 trillion is staked in these 30-odd global SWFs with Abu Dhabi having the biggest wealth fund with a corpus of over $600 billion.
“Individual foreign investors and sovereign wealth funds that have been set up by various nations could also be targeted during finance minister P Chidambaram’s forthcoming visit to Frankfurt, Singapore and London,” a senior government official told HT. “Governments with extra money have become major players in the global financial markets through their sovereign wealth funds and our aim through such road shows is to promote India’s growth story and attract investors to participate in some of our big ticket investment projects.”
A sub group headed by Kotak Mahindra Bank’s vice chairman Uday Kotak along with senior officials from the Reserve Bank of India, finance ministry, private companies, Securities and Exchange Board of India, Insurance Regulatory and Development Authority and top financial institutions had recommended tapping of global SWFs, private equity investors and strategic global investors to meet the high investment targets set for the 12th Plan period.