U K Sinha Advocates AIFs as Key to Job Creation

Former Sebi chairman U K Sinha emphasizes the role of alternative investment funds (AIFs) in addressing job creation challenges. Speaking at a CII event, he reflects on the sector's past growth and future potential, urging for a significant increase in investments over the coming years.

In a pivotal address, former Sebi chairman U K Sinha underscored the potential of alternative investment funds (AIFs) in tackling India's pressing job creation challenges. He highlighted the economic hurdles confronting the nation, singling out employment generation as a critical issue.

Sinha, credited with significant contributions to the regulatory framework of AIFs during his Sebi tenure, urged the sector to serve more than its own interests by embracing broader economic responsibilities. He equated the current state of AIF investments, approximately Rs 5 lakh crore, with the mutual fund industry's standing in 2012.

He emphasized the necessity for the AIF industry to draft a strategic growth blueprint, aspiring for a fivefold investment increase within the next five years. With strong government support, Sinha affirmed AIFs' potential in bolstering entrepreneurship.

(With inputs from agencies.)