Insta
Prime Minister Narendra Modi with Telecom Minister Ravi Shankar Prasad.
In what is likely to be a massive boost for the booming Indian start-up community, Government is engaged in discussion with a global pension fund and Insurance Regulatory Development Authority of India (IRDAI) to float a $2 billion alternative investment fund (AIF) for small and emerging start-ups, reports Economic Times.
The Government is looking to bring in several special changes to the existing laws, including insurance sector regulations to work out the creation of the AIF in which the global pension fund and insurance companies will also be investors.
An expert committee has already submitted its report to the IRDAI on the creation of the AIF. Once established, the AIF will pool in capital from insurance companies and some private equity majors and use the funds amassed to invest into start-ups.
The development comes as an effort by the Government to provide domestic funding options to the Indian start-up community, thus reducing the dependence on foreign private equity players, categorically those from the neighbouring nations.
This comes in the wake of restrictions which were recently instituted against Chinese investments into the Indian companies. This has erected some challenges for some start-ups as the domestic venture capital firms have been slow on fresh investments.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest