New Delhi, Nov. 10 -- The Confederation of Indian Industry (CII) has proposed the creation of a professionally managed India Development and Strategic Fund (IDSF) to support the nation's long-term growth and strengthen its economic security overseas.

The industry body stated that a twin-arm fund structure is required to mobilise patient, long-term capital to expand productive capacity domestically while securing strategic assets abroad.

According to CII, the IDSF could build a managed corpus of USD 1.3-2.6 trillion by 2047 with disciplined capital mobilisation, placing it on par with major global sovereign investment funds.

The proposal includes an initial budgetary allocation to establish credibility, followed by directing a portion o...