E-Paper
FM Jaitley calls on China fund managers to invest in India
BEIJING: Finance minister Arun Jaitley on Thursday began his five-day China visit by meeting Chinese bankers and wealth fund managers, and pitching for more investments
BEIJING: Finance minister Arun Jaitley on Thursday began his five-day China visit by meeting Chinese bankers and wealth fund managers, and pitching for more investments in India.
Soon after his arrival in Beijing, Jaitley met Bank of China chairman Tian Guoli, and addressed a closed roundtable meeting of heads of sovereign wealth funds, institutional investors and banks.
On Friday, the finance minister will address Business Forum Invest in India, in which several Chinese businessmen and heads of state-run firms are expected to take part. The day after, Jaitley will attend the board of governors meeting of the Asian Infrastructure Investment Bank (AIIB) in which India is the second-largest investor after China. The Beijing-based AIIB was officially established late last year.
The bank has an authorised capital of $100 billion. China is the largest shareholder with 26.06% voting rights, followed by India (7.5%), Russia (5.93%) and Germany (4.5%).
In all, 57 countries have joined as founding members of the bank, which was expected to announce its first set of loans for various countries soon.
Jaitley will meet his counterpart Lou Jiwei on Tuesday (June 27).
Meanwhile, officials said the India-China financial dialogue between secretaries of the two countries, which was due to be held on June 27, since economic affairs secretary Shaktikanta Das has been asked to stay back in Delhi in view of the voting on Brexit.
