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Russia’s Rusnano to invest in Indo-Russian defence joint ventures

  • Russian sovereign wealth fund Rusnano Management Company will create a $2-billion (Rs 13,000 crore) fund with equal contribution from Indian financial institutions to invest in joint venture companies formed between the two countries.
  • The joint fund will keenly look at modernisation contracts as India plans to spend about $100 billion on modernising its defence resources in the next decade.
  • The fund will be a subset fund of the National Infrastructure Investment Fund (NIIF) launched to invest in new infrastructure companies and stressed ones which are starved of capital.

Source: EconomicTimes

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