NEW DELHI: India’s oil minister Dharmendra Pradhan said Friday he wants state-owned oil companies to boost their overseas borrowings, replicating the funding success of the country’s renewable industry.
With funding from local banks and non-banking financial companies drying up following a bad loan and credibility crisis in the financial sector, top global pension funds, sovereign wealth funds, and private equity companies have stepped in to fill the gap, especially in equity capital.
