This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/business/514466-india-state-owned-companies-sale/
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Sale of state-owned firms could make India a $5 trillion economy | Sale of state-owned firms could make India a $5 trillion economy |
| (7 months later) | |
| The Indian government’s efforts to privatize state-owned companies provide a “great opportunity” for the country to become a $5 trillion economy, a top Indian business leader told CNBC. | The Indian government’s efforts to privatize state-owned companies provide a “great opportunity” for the country to become a $5 trillion economy, a top Indian business leader told CNBC. |
| This week the country’s Finance Ministry announced that the government has a disinvestment target of 1.75 trillion rupees (about $24 billion) for the next fiscal year, which starts on April 1. The government plans to sell state-owned assets to the private sector or list them on the stock exchange. | This week the country’s Finance Ministry announced that the government has a disinvestment target of 1.75 trillion rupees (about $24 billion) for the next fiscal year, which starts on April 1. The government plans to sell state-owned assets to the private sector or list them on the stock exchange. |
| This would include completing the privatization of state-owned companies such as Air India, Container Corporation of India and Shipping Corporation of India, among others. It would also involve a government proposal to make two public sector banks and a general insurance company private. | This would include completing the privatization of state-owned companies such as Air India, Container Corporation of India and Shipping Corporation of India, among others. It would also involve a government proposal to make two public sector banks and a general insurance company private. |
| “This is a very good move,” according to Anil Agarwal, executive chairman of diversified natural resources firm Vedanta Resources. He set up a $10 billion fund with UK-based investment firm Centricus last year, aimed at investing in government companies that are up for sale. | “This is a very good move,” according to Anil Agarwal, executive chairman of diversified natural resources firm Vedanta Resources. He set up a $10 billion fund with UK-based investment firm Centricus last year, aimed at investing in government companies that are up for sale. |
| Agarwal told CNBC that the government’s stake sale efforts will provide a “great opportunity, all over the world, for people to come in and invest.” It would also make the state-owned companies more productive, he added. | Agarwal told CNBC that the government’s stake sale efforts will provide a “great opportunity, all over the world, for people to come in and invest.” It would also make the state-owned companies more productive, he added. |
| India is expected to become the world’s fastest-growing economy in 2022, according to the International Monetary Fund (IMF). The fund’s forecast followed “a stronger-than-expected” recovery in 2020. | India is expected to become the world’s fastest-growing economy in 2022, according to the International Monetary Fund (IMF). The fund’s forecast followed “a stronger-than-expected” recovery in 2020. |
| India’s economy is currently the fifth largest in the world, with a GDP of $2.6 trillion, according to the IMF. | India’s economy is currently the fifth largest in the world, with a GDP of $2.6 trillion, according to the IMF. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |
| Dear readers and commenters, | |
| We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system. | |
| Sorry for the inconvenience, and looking forward to your future comments, | |
| RT Team. |