FinMin plans more overseas road-shows this year to lure foreign investments

The finance minister P Chidambaram doesn't seem to be giving up easily on the Current Account Deficit (CAD), which poses major threats to India, as he prepares a comprehensive plan to attract more and more foreign investments into the country.

According to a media report, Chidambaram has identified various funds - sovereign wealth, pension and university - whose managers could be contacted for investing in India.

It further said that finance ministry will not only conduct road-shows this year but also meet various big MNCs individually to sell India's growth story. As per the report, FinMin has prepared a list of Fortune 500 companies present in India to consult with them on their present investment plans and encourage them to make more.

Sources said that over the next few weeks Chidambaram may visit Japan, Canada and America to take part in road-shows, while a trip to United Arab Emirates/Qatar could happen as early as this month.

Very recently, Chidambaram had said that government will relax the unwanted sectoral limits on FDI or it may also remove them.

Read more about: foreign investment
Story first published: Thursday, March 21, 2013, 9:30 [IST]
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