India and the US have decided to set up a $10-billion (R45,000 crore) infrastructure debt fund under the public-private-partnership mode primarily to boost funding in the infrastructure sector. The India-US CEOs forum that met on Monday has proposed the move, commerce and industry minister Anand Sharma said.
“Both the governments will consider the recommendation and take a final view and put in place the modalities,” said Sharma. But he refused to give a timeline for setting up the fund. On opening up foreign direct investment in the retail sector, he said the decision on this would be taken only after consensus.