Rediff India Abroad
 Rediff India Abroad Home  |  All the sections


The Web

India Abroad

Sign up today!

Article Tools
Email this article
Top emailed links
Print this article
Contact the editors
Discuss this article

Home > Business > PTI > Report

India a top FDI destination, says Nath at WEF

January 28, 2005 20:06 IST

Commerce and Industry Minister Kamal Nath made a strong pitch for foreign investment in India at the World Economic Forum meeting on Friday, pointing to the recent changes in Press Note 18 and increase in foreign investment limits in ports and civil aviation sectors.

"Existing FDI policy is very liberal with most sectors on automatic route and recent modification in Press Note 18 and increased privatisation in the port and aviation sectors," he said at a session on 'India: Bigger, Better Business Horizons' at ongoing WEF in Davos (Switzerland).

"Question for the CEOs world over is no longer should my company go to India but rather can my company afford not to be in India. On the tourism front it is 'Incredible India,' but on economic front it is clearly 'Opportunity India'," an official release said, quoting Nath.

He emphasised the policy measures taken by India to attract Foreign Direct Investment in the special economic zones.

The legislation on SEZs would be brought before the Parliament shortly to attract foreign investment in the development of zones so that units set up there could avail themselves of world-class facilities and an attractive fiscal regime with minimum regulatory restrictions, he said.

In his address, Nath also referred to the robust macroeconomic fundamentals of India and the opportunities it offers in IT, pharma, tourism, health services, educational an other services.

© Copyright 2005 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Share your comments


Copyright 2006 India Limited. All Rights Reserved.