INSUBCONTINENT EXCLUSIVE:
Country needs about $200 billion investment into the infrastructure sector annually, said the CEOMumbai: The National Infrastructure and
Investment Fund (NIIF) is looking to launch a $2-billion long-term fund to finance various mega projects
The new fund has already been registered
The NIIF already has two operational funds -- the NIIF master fund that invests directly into companies and a fund of funds that invests in
The size of the fund will be $2 billion," NIIF managing director and chief executive Sujoy Bose said at a function
"The new fund will focus on major infrastructure projects and look for partners who are willing to take long-term risks with us," he said,
fast growth that the economy is clipping at, there will be plenty of return over time." The Asian Infrastructure Investment Bank will be the
anchor investor for the fund of funds, he said.Yesterday finance minister Piyush Goyal had said the AIIB board had approved a $200-million
capital infusion into the fund of funds of the NIIB
In the first tranche, the multilateral bank will pump in $100 million and the remaining some time later
"There is a gap of $90 billion between what is coming in and what is needed," he said, adding private sector investments into the infra
sector of a fast growing economy should be 8-9 per cent, but here it is only half of that
chancellor of the exchequer Philip Hammond said the Indo-British trade grew 15 per cent last year and Britain continues to be the one of
largest investors in the country
Citing infrastructure as one of the areas where thereis scope for more collaboration between both the countries, Hammond said, "India will
require $4.5 trillion investmentsinto the infra sector by 2040
But there is an estimated gap of $526 billion
