September 1, 2014 1:44 PM

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Reliance Group, Nippon Life launch India funds for Japan investors

As Prime Minister Narendra Modi sought greater investments from Japan, financial sector giant Nippon Life today said it will partner Anil Ambani-led Reliance Group for a proposed Reliance Bank and launched two India-focussed funds for Japanese investors. The two funds will direct investments by Japanese retail investors into Indian equity and bond markets. This was stated by Nippon and Reliance Life in a joint statement. The announcements coincided with Mr Modi's first official visit to Japan as Prime Minister, during which he invited Japanese investments into India and said that businessmen from the two countries can give a direction to world economy.

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