Finance Ministry has said that the recent memorandum of understanding (MoU) between the National Investment and Infrastructure Fund (NIIF) and the Qatar Investment Authority (QIA) on June 5 during the visit of Prime Minister Narendra Modi to Doha will enable the Qatar sovereign wealth fund to study investment opportunities in the Indian infrastructure sector.
The MoU between NIIF with QIA, which was signed by QIA CEO Abdullah Bin Mohamed Al Thani and Ministry of External Afairs Secretary (Economic Relations) Amar Sinha, will remain in effect for 12 months during which both NIIF and QIA will discuss and agree on terms, principles and criteria for such investments. The Finance Ministry has said that the objective of the MoU is to assist QIA to study investment opportunities in India’s infrastructure sector and develop a framework for exchange of information with regard to such investment opportunities in order to enable both sides to decide on joint investments.
The Ministry has further stated that NIIF shall share with QIA a pipeline of investment opportunities available in the infrastructure sector in India. Recently, the NIIF Governing Council, under chairmanship of Finance Minister Arun Jaitley, met and reviewed the progress of India's maiden sovereign wealth fund and discussed investment proposals and project pipeline.