In recognition of his efforts in making India an attractive foreign direct investment destination, Commerce and Industry Minister Kamal Nath has been selected as the "Global fDi Personality of the Year" by UK-based Financial Times Group.
The award would be presented to Nath and five other leaders from across the globe at a ceremony in New Delhi on Friday.
Courtney Fingar, editor of Financial Times' niche magazine fDi, termed Nath as "a tireless ambassador" in India's quest for investment, who addressed the concerns of international investors and negotiated domestic policy issues.
In reviewing FDI rules, Fingar said Nath's ministry "streamlined the process of investment, doingaway with multiple approvals from the government and regulatory agencies."
Underhis leadership "new sectors, even politically sensitive ones, such as real estate and retail trade, which has in the past remained firmly shut to foreign investors, are being progressively opened up," she said.
The others who would receive the top honour are Vincent Gadou Kragbe, CEO, Village des Technologies de l'Information et de la Biotechnologie, Cote d''Ivoire (Africa); Andrus Ansip, Prime Minister, Estonia (Europe); Sergio Fajardo Valderrama, Mayor of Medellin, Columbia (Latin America); Khater Massad, CEO, Ras Al Khaimah Investment Authority (The Middle East);and Henry M Paulson, US Treasury secretary.