India woos GCC businesses to invest in infrastructure sector
06 Nov 2014
(MENAFN) India is attempting to woo GCC businesses to invest in the Indian market, particularly in the sectors of construction, infrastructure which are currently going through a major growth period with the Indian equity market expected to register a growth of between 15-18 percent per year during the next three to five years, Gulf Daily News reported.
India also said that the services sector is also going through a major growth, with a focus on infrastructure development, capacity creation and a credible central banker in the country, as well as the sectors of infrastructure development, information technology and consumer discretionary.
India said that these investments will be supported by PineBridge’s, India’s Equity Fund, which currently has about USD470 million in its portfolio which include investments from several countries including the Middle East
PineBridge, which manages about USD70.8 billion in assets under its management, has announced that it will facilitate this process by expanding to the Middle East by opening a regional office in Bahrain.