Many NRI investors in the US had shown interest in the Indian alternative investment fund space when they met SEBI Chairman Ajay Tyagi.
Recently, Ajay Tyagi led a delegation of SEBI Officials to USA and met with various stakeholders including industry and investor associations. The interactions were held in New York, Boston and Washington DC during September 30 to October 4.
Many participants were attracted to the AIF industry as the foreign investment norms have been relaxed and the industry has grown at a rapid pace recently. In the past five years, investment in the AIF industry has grown by nearly 35 times from Rs3,180 crore in March 2014 to Rs.1.10 lakh crore in March 2019. Commitments raised has grown by more than 21 times to Rs 2.82 lakh crore from Rs 13,110 crore in the corresponding period.
Recent policy measures taken by SEBI relating to various areas such as FPIs, primary market, secondary market, mutual funds, corporate bond market were among the discussing points. The participants were also keen on emerging areas such as REITs and InvITs, which have grown to $10 billion asset size.
Investment opportunities for foreign investors in infrastructure projects, stressed assets, CPSEs proposed for divestment by Government, GIFT IFSC were also among discussion points. There were also detailed discussions on upcoming regulatory measures relating to frameworks for issuing depository receipts and direct listing of Indian equities abroad.
Commenting on the meetings, Shri Ajay Tyagi said, “We met various stakeholders during the meetings. The participants welcomed various initiatives taken by SEBI. We found the interactive sessions quite useful in terms of new ideas for further improving the ease of doing business.”