Qatar SWF Looks to India for Investments

The Qatar Investment Authority (QIA) is willing to invest US$ 10 billion in India over the next couple of years. India has attracted sovereign wealth dollars, but not nearly at the pace that China has. India’s investment market is complicated and riddled with government investment regulations. Sovereign wealth funds and other foreign institutional investors have called for the Indian government to modify its policies on foreign investment regulation and market access. Investors such as Temasek Holdings and the Government of Singapore Investment Corp have been frustrated with Indian investment regulations.

The Government of Singapore Investment Corp recently invested $100 million for a minority stake in Vasan Health Care Pvt Ltd, an Indian healthcare company.

The sectors that have looked attracted for sovereign funds are consumer, technology, infrastructure, energy, and real estate. For example, in July 2008, GIC Special Investments Private Limited through its affiliate Indivest Pte Ltd invested in the unlisted subsidiary Reid and Taylor (India) Ltd which was a subsidiary of S. Kumars Nationwide Limited. These companies were involved in luxury fabrics and apparel. Recently, the Government of Singapore Investment Corp through Indivest Pte Ltd and Baring Private Equity Partners India invested in Marico Ltd, an Indian consumer products company.

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