The Finance Ministry has not supported the Department of Fertilizers' (DoF's) proposal to set up a dedicated Sovereign Wealth Fund (SWF) to help Indian companies acquire fertiliser plants and fertiliser raw material assets abroad. The Ministry's Department of Economic Affairs (DEA) has instead suggested setting up India Overseas Investment Corporation Ltd. (IOICL) that would invest in the ownership of resources/assets overseas to create long-term natural resource security for the country.
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