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Modi woos Singapore firms to invest in top PSUs

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High1Prime Minister Narendra Modi has invited firms from Singapore to participate in the proposed divestment of Navratna Public Sector Undertakings.

At a media briefing about Modi’s meeting in Singapore, Anil Wadhwa, Secretary (East), Ministry of External Affairs, said, “There were broadly 14-15 key issues, including skills development, urban development, tourism, civil aviation and financial services that were discussed in the meetings.”

India is looking at selling stakes in PSUs, which are classified into three categories – Maharatna, Navratna and Miniratna – to raise around Rs 70,000 crore in the current fiscal.

“Apart from seeking investment in the PSUs, the Prime Minister also talked about various other areas of cooperation, including smart cities, defence services, culture, economic cooperation and financial services,” Wadhwa further said.

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