India woos private buyout firms

MUMBAI: India is asking private equity funds to invest in profit-making state-controlled firms as it seeks to meet asset sale target of 725 billion rupees (RM48.73 billion) for the next financial year. It is inviting buyout firms to “look into the opportunity of picking up strategic stakes in state assets, whether as a technology or enterprise partner directly, or in whatever form”, said Neeraj Kumar Gupta at the Department of Investment and Public Asset Management in India’s Finance Ministry.