Economic News

PM Modi to meet 15 global funds to promote investment, assess views on reforms in the country

By Administrator_ India

Capital Sands

Prime Minister Narendra Modi would be meeting 15 global funds to promote investments and to assess their views on reforms that are required to attract long-term capital into the country.

The meeting would focus on investment in capital-starved sectors like infrastructure.

“Fund houses from all over the world are in touch with us and want us to provide good assets and required patient capital (long-term capital) with not a very high, but stable returns. We are working towards it,” Tarun Bajaj, secretary, Department of Economic Affairs (DEA), said at a conference organised by the Confederation of Indian Industry  on October 22.

The development comes at a time when capital expenditure has seen a significant fall in view of the COVID-19 pandemic, with companies going slow on their new projects.

On a stimulus package, Bajaj said the finance minister had asked officials to explore another stimulus package and the ministry was working on it.

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