By R Shyamsunder,

As India strides towards its vision of becoming a superpower, an untapped reservoir of national wealth lies dormant in our public sector. A Bharat Sovereign Wealth Fund (BSWF) or The Bharat Fund (TBF) can revolutionise the management of government equity in public sector enterprises (PSEs) and banks, unlocking an estimated `40 lakh crore ($450-500 billion) in wealth across just 80-odd listed enterprises. (This excludes the value of land reserves at historical cost, which is significant).

The BSWF’s potential impact is staggering. A modest 2% divestment could generate $10-plus billion annually, reducing the fiscal deficit from ~4.9% to ~4.6% of GDP. But the game-changer lies in its ability to attract global partnerships, potentially drawing tens, even hundreds, of billions in foreign capital over time.

At its core, the BSWF is not just about managing assets; it’s about reimagining how we view and utilise our resources. From a fragmented approach where each ministry operates in isolation to a unified, 360° strategy, we can create a paradigm shift in managing government equity stakes in PSEs and PSU banks by pooling all the above equity into a........

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