Oman India Joint Investment Fund Invests in ING Vysya Bank Ltd

The Oman India Joint Investment Fund (OIJIF), the co-investment vehicle between Oman’s State General Reserve Fund (SGRF) and the State Bank of India, has undertaken a number of deals in India. In late July 2013, the joint venture fund acquired a small stake of less than 1% in Indian-lender ING Vysya Bank Ltd. The Bangalore-based bank is part of ING and is a publicly-traded stock.

Oman-India bilateral economic ties continue to strengthen as Omani capital flows into India. India’s robust information technology sector has provided services to businesses in Oman. For example, India expatriates in Oman exceed 600,000.

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