Industry & Economy
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Foreign Direct Investment
International Association of Lions Clubs may invest in India
Our Bureau
Kolkata
,
Nov. 7
INDIA is among the emerging markets in the region that is a strong contender for funds that are proposed to be invested by The International Association of Lions Clubs in the days ahead, according to Dr Ashok Mehta, President of The International Association of Lions Clubs for 2005-06.
He was addressing a news conference here today on the occasion of the board meeting of The International Association of Lions Clubs and the start of the golden jubilee celebrations of the Lions' operations in India.
Dr Mehta said the international service organisation has reserves of $220 million in its foundation account and $60 million in its administration account. It has been proposed to invest about 10 per cent of this amount in equities and fixed income instruments in emerging markets in the region, such as India, Thailand and Korea. The board of The International Association of Lions Clubs will soon take a decision on this matter.
Dr Mehta said Lions International also proposes to spend around $100 million on various programmes in India between now and 2008. $55 million has already been spent on various programmes in India in the last 10 years. In the next 10 years, the focus will be on prevention of blindness in children who are born premature and prevention of blindness on account of diabetes. These programmes have been launched in association with the World Health Organisation.
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