By: Press Trust Of India
Source: http://www.hindustantimes.com
Category: Investment In India
Pitching for foreign investment in the infrastructure sector, which
needs $1 trillion in the 12th five-year plan, finance minister Pranab
Mukherjee on Sunday asked the US investors to access the Indian debt
market through a mechanism of regulated entities with a sustained
long-term interest
rate.
Meeting leaders of Fortune 500 companies here, he assured them that
India has evolved a transparent and stable regulatory regime in sectors
such as electricity, telecommunications, ports, airports, petroleum and
natural gas, and a regulator for the coal sector is on the anvil.
He
told them that India has recently liberalised foreign participation in
the debt-equity market by allowing foreign investors to invest in the
Indian equity directly.
Seeking a “greater degree of involvement” of foreign investors,
Mukherjee said the “debt requirement for the infrastructure sector is
very large.”
He said India had recently evolved a mechanism to enable access to
the Indian debt market through infrastructure debt funds, which will be
regulated entities with a sustained long-term interest rate, long
horizon entities like pension and infrastructure and insurance funds.
Those
present at the meeting organised by the Chicago Council on Global
Affairs (CCGA) included CCGA president Marshall Bouton; Stephen
Chipman, CEO Grant for Thornton LLP; James A Gordon, president and
founder, Edgewater Funds; Brian Kenney, chairman and CEO of GATX;
Jennifer Scanlon, president International and vice-president USG
Corporation; Matthew J Shattock, CEO of Beam Inc; Gordon Hunter, CEO
Littelfuse Inc; and Rajeev Gautam, CEO of UOP LLC — a Honeywell
Company.
Source: http://www.hindustantimes.com/business-news/WorldEconomy/FM-for-foreign-investment-in-infra/Article1-803734.aspx
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