India’s largest insurer LIC on Wednesday said that it is willing to participate in India’s maiden sovereign wealth fund NIIF as the state-owned company’s own core focus is also on infrastructure inves
India’s largest insurer LIC on Wednesday said that it is willing to participate in India’s maiden sovereign wealth fund NIIF as the state-owned company’s own core focus is also on infrastructure investment.
“LIC has enough funds to invest in NIIF. LIC’s core focus is infrastructure investment. So there is no problem in investment quantum,” LIC chairman S.K. Roy said.
The government has set up the Rs 40,000 crore Nati-onal Investment and Infr-astructure Fund (NIIF) to facilitate funding in infrastructure projects.
NIIF has already signed MoU with Russia’s Rusnano, ADIA of Abu Dhabi and Qatar sovereign wealth fund QIA to study investment opportunities in the Indian infrastructure sector.
While the government holds 49 per cent in NIIF, it is scouting for investors for the remaining 51 per cent. It is in the process of appointing a CEO for NIIF. The NIIF governing council met last week and reviewed the progress of India’s maiden sovereign wealth fund.
