05 February 2016
New Delhi - India is eagerly awaiting investment worth over $300 million of Oman-India Joint Investment Fund, said Indian Finance Ministry officials on the sidelines of India Investment Summit 2016, that Finance Minister Arun Jaitley opened on Thursday while inviting foreign capital in sectors like roads, railways and energy.
Finance Ministry officials expressed hopes of early finalisation of the investment of the second tranche of OJIF fund worth $300 million even as Jaitley met the sovereign fund managers from Singapore and the UAE, seeking investments from them on the strength of India's stable policy regime and the resilience of its economy amid a global slowdown.
Asked about the prospect of bilateral Indo-Oman trade and investment, the finance ministry officials told Oman Daily Observer: "India has a strategic partnership with Oman with the growing mutual investment and trade being a crucial pillar to support it."
"The mutual investment between the two countries is estimated to have grown to over $7.5 billion, they said adding: "The first tranche of OIJIF worth $100 million already stands invested and discussions are under way to finalise the investment for the second tranche of $300 million."
OIJIF is a growth capital private equity fund focused on investing in the mid-market segment in India. It works in partnership with State General Reserve Fund of Oman (SGRF) and State Bank of India (SBI) with SGRF being the Oman's Sovereign Wealth Fund and SBI being the India's largest bank.
"There is a huge untapped potential of mutual investment," the Finance Ministry officials said adding that India has also been holding seminars at frequent intervals to attract to reach out to Omani and Indian Business Communities in Oman and to inform key Omani enterprises, business houses, investments funds and banks of the investment opportunities available in India.
Jaitley also held closed-door meets with several potential investors including European investment banks and sovereign funds of countries like Singapore and the UAE.
Jaitley later inaugurated the India Investment Summit in presence of Sheikh Hamid bin Zayed al Nahyan and representatives of various Sovereign Wealth Funds, Pension Funds and institutional investors both domestic and international, besides several top government officials from various ministries.
Opening the India Investment Summit 2016 here, Jaitley highlighted opportunities the country presents to investors and sought investment in sectors like road, highways, oil & gas, urban infrastructure and railways.
New Delhi - India is eagerly awaiting investment worth over $300 million of Oman-India Joint Investment Fund, said Indian Finance Ministry officials on the sidelines of India Investment Summit 2016, that Finance Minister Arun Jaitley opened on Thursday while inviting foreign capital in sectors like roads, railways and energy.
Finance Ministry officials expressed hopes of early finalisation of the investment of the second tranche of OJIF fund worth $300 million even as Jaitley met the sovereign fund managers from Singapore and the UAE, seeking investments from them on the strength of India's stable policy regime and the resilience of its economy amid a global slowdown.
Asked about the prospect of bilateral Indo-Oman trade and investment, the finance ministry officials told Oman Daily Observer: "India has a strategic partnership with Oman with the growing mutual investment and trade being a crucial pillar to support it."
"The mutual investment between the two countries is estimated to have grown to over $7.5 billion, they said adding: "The first tranche of OIJIF worth $100 million already stands invested and discussions are under way to finalise the investment for the second tranche of $300 million."
OIJIF is a growth capital private equity fund focused on investing in the mid-market segment in India. It works in partnership with State General Reserve Fund of Oman (SGRF) and State Bank of India (SBI) with SGRF being the Oman's Sovereign Wealth Fund and SBI being the India's largest bank.
"There is a huge untapped potential of mutual investment," the Finance Ministry officials said adding that India has also been holding seminars at frequent intervals to attract to reach out to Omani and Indian Business Communities in Oman and to inform key Omani enterprises, business houses, investments funds and banks of the investment opportunities available in India.
Jaitley also held closed-door meets with several potential investors including European investment banks and sovereign funds of countries like Singapore and the UAE.
Jaitley later inaugurated the India Investment Summit in presence of Sheikh Hamid bin Zayed al Nahyan and representatives of various Sovereign Wealth Funds, Pension Funds and institutional investors both domestic and international, besides several top government officials from various ministries.
Opening the India Investment Summit 2016 here, Jaitley highlighted opportunities the country presents to investors and sought investment in sectors like road, highways, oil & gas, urban infrastructure and railways.
© Oman Daily Observer 2016
