Prime Minister Narendra Modi will address global investors in a webinar tomorrow
New Delhi:
Amid concerns over the dwindling of foreign investment in the country, even as the conflict between Russia and Ukraine threatens to affect the current account deficit and lead to a spike in oil prices, Prime Minister Narendra Modi will announce the address global investors for their contribution to economic growth.
The Department of Investment and Public Asset Management (DIPAM), in partnership with government think tank Niti Aayog, will host a webinar where global sovereign wealth, private equity, global pension funds, investment banks, monetization companies and stakeholders from Northern America, Europe, The Middle East, Asia and the Far East and Australia would participate.
“Through this webinar, DIPAM aims to elicit ideas and views from industry experts, investors and other leading stakeholders on the issues of developing a time-bound implementation of strategies related to privatization and divestment of public sector companies and the monetization of nuclear power plant assets and non-nuclear assets to make the best contribution to India’s growth,” an official statement said.
Finance Minister Nirmala Sitharaman will deliver a speech in the closing session of the webinar.
DIPAM will incorporate the views of the panelists and participants to formulate an implementation strategy for privatization, asset monetization and government divestment programs, sources said.
The government has set a budget target of Rs 65,000 crore from the divestments and privatizations of state-owned companies in the next fiscal year starting April 1.
In the current budget, the divestment target has been lowered to Rs 78,000 crore in the revised estimates, from Rs 1.75 lakh crore set in the budget. So far, this fiscal amount over Rs 12,400 crore has been realized through the sale of minority stakes and the privatization of Air India.