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Mumbai, New Delhi, Aug 12: credit for providing much needed funds to stabilise the global crisis at just the right time. Finance minister Palaniappan Chidambaram had said in Davos that India was in favour of greater transparency by such funds, and that the government was discussing this issue.
The coordination committee had, in January this year, discussed various aspects of the functioning of SWFs, including the treatment given to FII, foreign venture capital investor and FDI routes available to them. At the time, there was talk that their investment activities need to be tracked.
Issues in this connection were arriving at a suitable definition for such funds, whether they should be treated as any other investor with commercial objectives or as a separate class whose objectives may extend beyond commercial ones. The other issues pertaining to SWFs were whether they should be barred from some segments, and whether there should be guidelines for such funds....
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