Vibrant Gujarat summit: Modi to address roundtable on sovereignty fund

Prime Minister Narendra Modi will be addressing the first ever roundtable conference on various public funds to be utilised for investment purposes during the Vibrant Gujarat summit 2019, an official has said.

Modi will be addressing the conference on utilisation of various public funds like the sovereignty wealth funds, pension funds and other such various funds institutions for investment purposes, the official said on Monday.

"For the first time, we will be holding a roundtable conference for discussions on utilisation of sovereign wealth funds, pension funds and such other similar public funds which can be utilised for investment purposes for infrastructure sector. We have invited around 27 such prominent institutions for the event," Additional Chief Secretary, Finance, Arvind Agarwal told the media.

The Union Finance Ministry, Gujarat government and the National Investment and Infrastructure Fund (NIIF) would be organising this conference jointly. There would be discussions on the subject by eminent financial experts from all these institutes.

"The participants will be appraised about various economical reforms initiated by the Central government in the past five years. These financial institutions have funds in trillions of dollars, which can be utilised to set up infrastructures for airports, shipping ports, rail, roads and other urban infrastructure, industrial infrastructure in various projects in the country," Agarwal said.

During the conference, there would be a display of prospective Mega projects in Gujarat through an exhibition in the summit, he added.

Reserve Bank of India (RBI) Governor Shaktikanta Das and Finance Ministry Secretary Subhash Chandra Garg would also be present.

Major financial institutions like Government Pension Investment Fund (GPIF) of Japan, the British Columbia Investment Management Corporation (BCIMC), the Ontario Municipal Employment Retirement System, PSP Investments and CPPIB, International Finance Corporation IFC, Asian infrastructure investment bank (AIIB), the Japan Bank for International Cooperation (JBIC), the Pacific Investment Management Company, Vanguard, IFU, Allianze will also be sending their representatives and officials to the conference.

--IANS

amc-desai/pgh/