The government will initially seek 100 EBRD shares for a minimum price of $1.2m in an attempt to boost the competitiveness of India-based businesses.

The cabinet of Indian prime minister Narendra Modi has reached consensus on applying to join the multilateral-owned European Bank for Reconstruction & Development (EBRD). The Department of Economic Affairs, part of the Ministry of Finance, will now start the process of formalising India’s EBRD seat. The government initially wants 100 EBRD shares in exchange for…

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