India discusses investment fund with Temasek
SINGAPORE - Indian Transport Minister Kamal Nath said he met with Temasek Holdings Pte to discuss the "idea" of setting up a fund to invest in roads, ports and airports as the country seeks to improve infrastructure.
The minister said he met with the Singapore state-owned investment company on Wednesday, when asked about a Wall Street Journal report on Tuesday that India is in talks about creating a $2 billion fund. Jeffrey Fang, a spokesman for Temasek, declined to comment when contacted by Bloomberg News.
India made the proposal in an October meeting with Temasek Chief Executive Officer Ho Ching, Nath told reporters in Singapore. The South Asian country said in May it plans to set up a 500 billion-rupee ($11 billion) debt fund to upgrade infrastructure and fuel economic growth. India is the world's second-fastest growing major economy.
