India is considered a stable country for investing in by corporates overseas. This is evident from the fact that not a single corporate has approached the World Bank Group’s Multilateral Investment Guarantee Agency (Miga) for non-commercial risk cover for making FDIs in the country. This was revealed by Miga’s global head of agri-business, manufacturing and services, Nabil Fawaz.

Speaking at a round table meet on overseas investment opportunities with Miga organized by Export Import (Exim) Bank of India in Mumbai, Mr. Fawaz said that if a company approaches Miga for insurance cover for investments in India, the rate for risk premiums would range between 110-130 basis points. This is significantly lower than what Miga would charge for investments in countries, like Nigeria and Iran, etc, where the rate was as much as 200 basis points.

Meanwhile, Mr. Fawaz revealed that Miga was evaluating proposals from three Indian companies for risk cover that are investing in South East Asia and Africa. The total investment is around $200-400 million. The companies are exploring investments in manufacturing power and mining industries, he said.

Meanwhile, six Indian companies from pharma and engineering field are ready to acquire and pump in foreign direct investments (FDI) in UK and Europe markets, in collaboration with Export Import Bank of India (Exim Bank).

(www.financialexpress.com)