Question

 If all goes as planned, state run insurers and pension funds may get the nod to invest in government backed start up focused funds of funds. Currently, talks are on between various government agencies, such as the Department for Promotion of Industry and Internal Trade and industry regulators including the Insurance regulatory and Department Authority of India and securities and exchange board of India to make this a reality. The move comes at a time when there is a pressing need to create large pods of domestic capital, given recent changes to India's foreign direct instrument norms, which are anticipated to severely restrict Chinese origin funding into the country's start up ecosystem. "There is a critical need to replace that anticipated short fall in capital. The government needs to get Indian investors to start investing. There is now a clarion call to start relying more on India's domestic financial institutions or domestic pools of capital and ensure they participate in a significant manner otherwise actions don't follow the words." A person with knowledge of the development said. a) Which government authorities are involved in the talk. b) Explain the motive of the above given passage.​

Answer 1

The Government of India has been talked about over here.

The action is being taken at a time when it is urgently necessary to raise significant amounts of domestic capital due to recent revisions to India's foreign direct instrument restrictions, which are expected to severely limit Chinese origin investing into the nation's startup sector.

• The Government of India has been talked about over here.
• The go-ahead to invest in government-backed start-up oriented funds of funds may be given to state-run insurers and pension funds. To make this a reality, discussions are currently taking place between a number of government organisations, including the Department for Promotion of Industry and Internal Trade, industry regulators, such as the Insurance Regulatory and Development Authority of India and the Securities and Exchange Board of India. The action is being taken at a time when it is urgently necessary to raise significant amounts of domestic capital due to recent revisions to India's foreign direct instrument restrictions, which are expected to severely limit Chinese origin investing into the nation's startup sector.

Hence, the Government of India has been talked about over here. The action is being taken at a time when it is urgently necessary to raise significant amounts of domestic capital due to recent revisions to India's foreign direct instrument restrictions, which are expected to severely limit Chinese origin investing into the nation's startup sector.

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