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Others ‘Subsidies for petrol by the government do not help the poor’

‘Subsidies for petrol by the government do not help the poor’

Author | Jagadeesh Krishnamurthy | Wednesday, Dec 05,2007 6:18 AM

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‘Subsidies for petrol by the government do not help the poor’

The Asian Private Equity and Venture Forum India 2007 gave an opportunity to Indian and other Asian investors to discuss some of the emerging trends in the private equity and venture sector and even debate on issues stalling its growth. The two-day conference on December 4-5, 2007 has been organised by ‘Asian Venture Capital Journal’ in Mumbai, and featured Future Group’s Kishore Biyani, Tech Mahindra’s Vineet Nayyar as keynote speakers.

Day one of the conference had Vineet Nayyar, Vice Chairman, MD and CEO, Tech Mahindra, talking on obstacles for the growth of India and the investment sector. Some of the topics he touched upon were education and employment, which he termed as vital components of the country. Reasoning his displeasure at the political interference in Indian economy, Nayyar said, “Subsidies for petrol and some other sectors provided by the Indian government do not help the poor and needy; instead, it is benefited by people like us – the working class.”

The following panel discussions ‘Buyouts, PIPEs and Hedge Fund Convergence’ and ‘Growth Capital and Consumer Demand-Finance, Retail, Education and Entertainment’ had the speakers voicing their thoughts about emerging trends and issues facing the sector. The prevalent government regulations and availability of quality infrastructure were some of the main issues that emerged over the course of these discussions.

Kishore Biyani, Founder and CEO of Future Group, and MD of Pantaloon Retail, touched upon the unique qualities of India and went on to talk about the role of the Future Group in India.

The second half of the day comprised parallel sessions that allowed discussions on two different verticals – Hard Assets and Venture Financing. While panellists talked about the importance of real estate, power and infrastructure in context to the sector in the first vertical, the latter dwelt on IT and communications, along with micro finance, micro credit and seed finance.

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