Oct. 14 – The government of India has permitted a policy to facilitate profit-making state-run firms to obtain assets overseas. The new policy also seeks to augment the power of Maharatna and Navratna companies and provide greater autonomy for acquiring raw material assets abroad. The government will also mull over setting up a dedicated Sovereign Wealth Fund to obtain assets overseas. The guidelines for acquisition of raw material assets abroad by public sector enterprises is likely to appreciably improve the capabilities of such entities to acquire such assets and protect the country’s long term economic interests.