India Takes Another Step towards SWF

Ashby Monk

I noted a few weeks back that the on-again, off-again debate over whether to set up a new Indian SWF was moving back towards the ‘0n’ setting. At the time, the Chief Economic Advisor to India’s Ministry of Finance, Dr. Kaushik Basu, said that the idea of a SWF for strategic acquisitions warranted further evaluation.

Apparently, what Basu asks for, he gets. News out this morning that an Indian government panel with widespread representation is looking to launch a new “investment fund” to help India acquire natural assets abroad. According to India’s Economic Times:

“The committee of secretaries, which has members from various ministries, department of public enterprises and the Planning Commission, will discuss the composition and size of this fund later this month.”

Department of Public Enterprises secretary Bhaskar Chatterjee said,
“We expect something to be worked out in the next three-four months.”
Obviously, we should temper our expectations, as the debate seems capable of switching to ‘Off’ at any time. That being said, I’d wager that India will in fact end up with a new SWF for strategic investing. Why? Simply put, the people fighting against it can’t seem to keep up with the numbers of people fighting for it.

2 Responses to “India Takes Another Step towards SWF”

  1. 1 sad guest May 3, 2011 at 2:16 pm

    Seems like a great deal, and certainly a much more secure form of employment than an average analyst program at a major investment bank. Do their high potential candidates work public servant hours also?

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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