The foreign investor community, which is hungry for participation in terms of investment in India, is keen to know what these reforms are, said World Economic Forum (WEF) director Colette Mathur.

"India needs to be seen as an easier place to invest and the Indian government should be seen as a great facilitator. Transparency is the key word for investment", said Mathur while giving details about the three-day 15th Indian economic forum being organised jointly by the WEF and Confederation of Indian Industry from December 5.

Mathur said the summit was also expected to throw some light on the second generation of reforms planned by the Indian government to jump start the economy. The summit has assumed greater importance as India is being viewed by world nations as a safe haven for diversifying their investments.

There is a need to ensure that publicgovernance comes to India and the Indian government should introduce more transparency and accountability. "The government should avoid arbitrary decisions and should have clear guidelines", said Mathur, adding that she hoped that prime minister Atal Bihari Vajpayee would give an assurance during the forum that it was a priority with him too.

Mathur said India should capitalise on the feel-good sentiments - stable government, low inflation, growing exports and high production rate - which have been generated among the foreign investors.

With the world economy in good shape and the South-East Asian crisis nearly over, the foreign investors are diversifying in several new countries, said Mathur.

"There is a lot of interest among the foreign investors and there appears a real window of opportunity for India, which it should not miss", said Mathur referring to the increased presence of foreign companies at the forthcoming summit which will have over 500 delegates from over 30 countries.

Mathur said thesummit would get some `Davos flavour' with the inclusion of separate sessions on the future of multinational companies in India, acquiring companies abroad and getting listed on the Nasdaq.

"We also want to benchmark India as an attractive investment destination against other South East Asian and developing countries", she added. CII president Rahul Bajaj said the summit will also have participants from countries such as China, Hong Kong, South Africa and Saudi Arabia for the first time.