India Amritkaal Fund (USD denominated GIFT City Fund)

Our first offshore fund – Carnelian India Amritkaal Fund, based at Gift City, India’s first International Financial Services Centre (IFSC).

“Amritkaal“ is the India’s PMs 25-year vision (till 2047) for a “New India @100th“ year of independence; ambition being to make India a developed country. 

It is said when you zoom out and look at something over a longer time horizon, things look much different than when you are zoomed in at narrow time frame. Which one you choose, determines your approach and outcome. In the times, when most people are focused on short term markets movement & valuations, we zoomed out and looked at what are the possibilities, probabilities as India looks to become a developed nation over the next 25 years (referred as Amritkaal period – the period of a new beginning of greater prosperity for all). 

As the Indian economy transitions to a developed nation by 2047 with a GDP of USD 29 tn (~8x from today), per capita GDP of USD 18,000 (~7x from today), world GDP share of ~16% (~4x from today), investing in India today is a once in a lifetime opportunity, like the Japanese Economic Miracle, leading to significant wealth creation during the Amritkaal period. India will continue to command a premium attracting massive flows for both domestic & foreign investors.

 It is this perspective which led us to the idea of our fund, ‘Carnelian India Amritkaal Fund’, designed to leverage on opportunities emerging across 5 sectors over the Amritkaal period – we will see emergence of sunrise sectors/new sub-sectors.