DOHA: The federal government of India, in line with a discussion held by its Finance Minister P Chidambaram with Qatari authorities during his recent Doha visit, has decided to enhance that country’s foreign investments limits.
During the May 19 visit Qatar and India had discussed investments by Qatar’s Sovereign Wealth Fund (SWF) and other long term investments in India. India’s Finance Minister had conveyed that his country would create a special window in the Government Securities segment for SWFs and other long-term funds, with ease of entry and exit.
In a statement issued here yesterday, the Indian embasy noted the Reserve Bank of India, and the Securities and Exchange Board of India (SEBI) have issued notifications enabling such investments.
According to the notification, the government of India has enhanced the limit for foreign investment in Government Securities from $25bn to $30bn with immediate effect. The $5bn enhancement shall be available for investments only to those Foreign Institutional Investors (FIIs) which are registered with SEBI under the categories of SWFs, Multilateral Agencies, Endowment Funds, Insurance Funds, Pension Funds and Foreign Central Banks.
Metito gets funding for expansion
DUBAI: United Arab Emirates-based water and waste-water specialist Metito has secured long-term financing to support expansion plans in Indonesia, Egypt and China. The company is also looking at entering markets in Africa and the Indian subcontinent, Managing Director Rami Ghandour said.
The Peninsula/Reuters
