Kuwait Investment Authority Trims Indian Market Exposure

As reported by India's leading business daily, 'Business Standard,' the Kuwait Investment Authority (KIA), overseeing Kuwait's sovereign wealth fund, has reduced its Indian market exposure by approximately 30% as of December 2023 compared to the previous year. The KIA, ranked as the third-largest sovereign wealth fund in India, has invested around Rs 9,019 crore across a portfolio of over a dozen domestic stocks. Among its top holdings are Maruti Suzuki, M&M, Zomato, Oberoi Realty, and Brigade Enterprises.

Meanwhile, the Singapore-based Government Investment Corporation (GIC), India’s largest sovereign wealth fund, witnessed a 32% surge in the market value of its domestic equity holdings, reaching Rs 2.14 trillion by December 2023. Similarly, Norway's Norges, India's second-largest sovereign wealth fund, experienced a 21% increase in its India equity holdings, totaling Rs 86,628 crore during the same period.

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