Long-term investors, the key

The prospects for infrastructure financing in India are bound to improve only if long-term investors like pension funds and insurance companies are allowed more flexibility to invest in long-dated bonds, according to representatives of capital market players and FIs. According to a presentation made today before the World Bank President, Mr. James D. Wolfensohn, by representatives of leading players in the capital market, Indian financial institutions and industry, the flow of funds for financing infrastructure in the country has been hampered due to pre-empting of longterm funds by the Government.

Insurance majors unveil detailed business plans

With optimism growing over the imminent opening up of the insurance sector, competition among global insurance majors has begun in right earnest with several of them having made presentations on their detailed business plans for the Indian market to the Insurance Regulatory Authority (IRA). The business plans would form a crucial input- for the regulator while granting licences to aspirants to operate in the Indian market.

PM to empower States for industrial push

Prime Minister, Mr. H. D. Deve Gowda, today indicated that his Government would soon give more powers to the States, especially in the area of industrialisation. Speaking at the inauguration of the 80th anniversary celebrations of the Federation of Karnataka Chambers of Commerce and Industry, Mr. Gowda said procedures would be simplified further so that once a-project receives clearances from the State pollution board and the Environment Ministry, it would be allowed to go through.

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