November 23, 2011 / 10:11 AM / 8 years ago

India considering issues on setting up sovereign wealth fund - jun finmin

NEW DELHI, Nov 23 (Reuters) - India is considering the issues pertaining to setting up a sovereign wealth fund to procure energy assets in overseas markets, Namo Narain Meena, a junior finance minister told lawmakers.

“The issues regarding the establishment of a sovereign wealth fund are under discussion,” the minister said in a written reply to the upper house of parliament, adding no final decision had been taken yet.

He was replying to a query whether the government had decided to set up a $10 billion sovereign wealth fund to acquire energy assets abroad.

Reporting by Manoj Kumar; Editing by Subhadip Sircar

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