Indian Central Bank Balks at SWF Plan

摘要

Indian plans to set up a $10 billion-$20billion sovereign wealth fund (SWF) to fi-nance energy acquisitions overseas are run-ning into a roadblock in the shape of thecentral bank, which does not want to have topart with foreign exchange reserves to helpfund the body.A ministerial panel discussed ways of cre-ating a fund to help state firms that are beingoutpaced by their Chinese counterparts inthe race to acquire oil and coal fields abroad.Chinese firms have announced about $46.6billion of energy acquisitions overseas sinceJanuary 2010, compared with just $8.3 bil-lion by Indian companies. “Various thingswere discussed but no view has emerged,”Oil Minister S. Jaipal Reddy said in New Del-hi after the 75-minute meeting.