Govt to showcase crisis mgmt skills to woo foreign investment

Written by Sanjay Jog | Mumbai | Updated: Sep 16 2009, 04:47am hrs
India, which was successful in weathering the current meltdown, will take the episode as an opportunity to showcase its success story and seek investments. A high level delegation, comprising power minister Sushilkumar Shinde and minister for roads and surface transport Kamal Nath, will participate at the 6th India Investment Forum beginning September 17 in New York.

A top government official told FE on Monday The meet coincides with one year completion of meltdown which sets in after the Lehman Brothers gone in for bankruptcy. Despite the global crisis, Indian economy grew at 6.1% against 5.4% as projected by experts in the first quarter of 2009-10. Besides, index of industrial production also surged by 7-8% in the quarter.There are signs of revival. This a right time to call upon investors from the US and other parts of globe to invest in India. Besides, unlike most of the developing world, much of Indias growth is internally driven.

The official said the finance ministry has already asserted that India is contributing to the revival though it was not leading it.

Shinde, who leaves tonight, confirmed that he will attend the three-day event in New Yorik. Apart from explaining various measures taken by the centre to tackle the financial crisis, I will certainly use this opportunity to invite investors in the Indias power sector. During 11th Plan period a capacity addition of 78,700 mw is planned, while in the 12th Plan over 80,000 mw are proposed to be added.

Moreover, Kamal Nath, who has already hiked a daily 20 km construction of road from the present level of 2 km, is already touring extensively to attract investment in Indias roads and highways.

The conference will deliberate on macro economics and regional security, baning and financial services, pharmacuitical and healthcare, decade on infrastructure, real estate, urban development and transport infrastructure, telecommunications and Indian consumer market.