India story intact, foreign investors have confidence in govt to push reforms, says Anand Sharma

PTI Posted online: Thursday, Jan 23, 2014 at 0000 hrs
Davos : Foreign investors continue to remain bullish on India and the government's measures to fast track project clearances have given a major boost to the country's growth story, Commerce and Industry Minister Anand Sharma said today at the World Economic Forum (WEF 2014) in Davos.

After addressing an India Investment Roundtable today on the sidelines of the 44th WEF annual meeting, Anand Sharma said that investors remain confident and this message has been heard here loud and clear.

"Foreign investors remain confident about India and its growth story. India's growth has been specially remarkable at a time when global economy was facing troubles," he said.

Anand Sharma also said that "various measures initiated by the government to implement reforms and fast track the decision- making process and clearances to projects have helped build this confidence".

Among those who attended the meeting include top executives of many Swiss firms such as Holcim, Kudelski group, Schindler Holding, Adviq and Nestle. Besides, high ranking executives from Deloitte, IFC, Colliers International, and Sistema were also present.

S&P President Neeraj Sahai, PepsiCo CFO Hugh Johnson, diversified Hinduja Group's Prakash Hinduja and LuLu Group's Yusuffali also attended the meet.

From the Indian side were industry chamber CII's President Kris Gopalakrishnan and Director General Chandrajit Banerjee.

India has liberalised FDI policy in about a dozen sectors including telecom, defence, PSU oil refineries, commodity bourses, power exchanges and stock exchanges.