PM Modi to address global investors on privatisation, asset monetisation

Prime Minister Narendra Modi will on Wednesday address global investors as well as infrastructure, real estate and legal sector experts on the strategy of CPSE privatisation, asset monetisation and their contribution to India's growth.

The Department of Investment and Public Asset Management (DIPAM), in collaboration with NITI Aayog, is organising the apex level consultative post-Budget webinar, which will see participation from 22 ministries and senior management from PSEs.

Global sovereign funds, private equity, global pension funds, investment banks, asset monetisation companies especially real estate, infrastructure, and legal experts along with other stakeholders from North America, Europe, Middle East, Asia and Far East, and Australia would also participate.

"With this webinar, DIPAM aims to elicit ideas and views from the sectoral experts, investors' community and other eminent stakeholders on the issues to chalk out a time-bound implementation plan/strategy regarding Privatization/Disinvestment of Public Sector Enterprises and Asset Monetization of Core and Non-Core assets for realization of optimal outcome/contribution in India's growth," an official statement said.

Finance Minister Nirmala Sitharaman will give her address in the concluding session of the webinar.

DIPAM will incorporate valuable thoughts/experiences from the panellists and participants to formulate robust implementation strategy for privatisation, asset monetisation and disinvestment programme of the Government of India with sharper focus, the statement added.

The government has set a Budget target of Rs 65,000 crore from CPSE disinvestment/privatisation in the next fiscal beginning April 1.

In the current fiscal, the disinvestment target has been scaled down to Rs 78,000 crore in the revised estimates, from Rs 1.75 lakh crore pegged in the Budget. So far this fiscal, over Rs 12,400 crore has been realised from minority stake sales and Air India privatisation.