Global investors showing strong interest in India
Global investors are showing strong interest in India with more inquiries for investment portfolios, a Singapore-based top corporate official has said. “We have multiple conversations with pension funds, insurance companies, private banks and family offices of the rich people with trust-type of investment outfits,” said the UTI International CEO Praveen Jagwani.
Jagwani sees investors’ interest further improving as the Indian economic growth picks up and the rupee stabilises. UTI International has USD 2.15 billion worth of assets under its management, a significant built-up as its Singapore business started seven years ago. “We are educating global investors about opportunities in India,” he said, underlining UTI’s ongoing engagement with global investors.
“Our role as an international business of UTI is completely aligned with that of the Indian government.” UTI is 74 per cent owned by state-owned Enterprises. Jagwani also sees growing interests from institutional investors based in South East Asia, highlighting the trade and cultural ties going back to centuries. Singapore’s Government Investment Corp and Temasek Holdings as well as Malaysia’s Khazanah Holdings have investments in India, he pointed out. He estimates that the US leads with foreign investment into India, accounting for 50 per cent of the total flow. Mauritius with 22-23 per cent of the foreign investment into India is second and Singapore third with 18 per cent. UTI International’s Singapore office has become de-facto headquarters for attracting investments into India. It is constantly discussing investment opportunities with European and North Asian investors, he said.
“Some of our clients are family offices from Europe with assets worth billions of dollars,” he said.
Source :money control.com
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