Jaitley meets investors in Tokyo, pitches for infra funding

Finance Minister Jaitley stated that efforts are on to make India the most advantageous tax jurisdiction

By: PTI | Tokyo | Published: May 31, 2016 2:53:03 pm
Arun Jaitley Financial Minister Arun Jaitley National Investment and Infrastructure Fund NIIF Arun Jaitley's Tokyo visit India Tax regime India Investment India investment environment Union Finance Minister Arun Jaitley highlighted the opening up of various sectors to FDI

Pitching for investment in India’s first sovereign wealth fund National Investment Infrastructure Fund (NIIF), Finance Minister Arun Jaitley on Tuesday met global investors and promised them an “advantageous” tax regime in the country.

The Rs 40,000-crore NIIF was set up in December and is an investment vehicle for funding commercially viable greenfield, brownfield and stalled projects.

During his meeting with global investors, the Minister highlighted the second-generation reform measures undertaken by the government by way of opening up various sectors to FDI as well as making India an investor friendly environment.

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According to sources, the Minister also pitched for further infrastructure investment saying that efforts are on to make India the most advantageous tax jurisdiction.

Also, the Minister said the government has followed fiscal discipline following the rule book of fiscal consolidation.

During the meeting, Japanese investors were positive about infrastructure investment, sources said.

The Minister also highlighted various avenues for investment, including in the renewable energy space, during the hour-long meeting.

The government is in the process of appointing a CEO for the NIIF, in which 49 per cent is held by the government and remaining would be held by private investors.

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