Indian Govt Panel Suggests $10B SWF

India’s Planning Commission has recommended that the country create a $10 billion sovereign wealth fund,The Wall Street Journalreports. The proposal has been forwarded to a group of ministers for review.

The wealth fund would help India fund foreign energy assets to feed its power plants. The nation is increasingly focusing on buying stakes in overseas oil and gas blocks through a unit of state-run explorerOil and Natural Gas Corp.

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