The Indian government’s efforts to privatize state-owned companies provide a “great opportunity” for the country to become a $5 trillion economy, a top Indian business leader told CNBC. This week the country’s Finance Ministry announced that the government has a disinvestment target of 1.75 trillion rupees (about $24 billion) for the next fiscal year, which starts on April 1. The government plans to sell state-owned assets to the private sector or list them on the stock exchange. This would include completing the privatization of state-owned companies such as Air India, Container Corporation of India and Shipping Corporation of India,
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