Chidambaram to kick off Canada infra road show today
15 Apr 2013
Finance Minister P Chidambaram, who arrived in Toronto on Sunday on a two-day visit aimed at attracting Canadian investment in infrastructure, will kick off the investment road shows today. He is accompanied by top finance ministry and central bank officials.
Chidambaram has been conducting similar road shows in global financial hubs over the last year, including Japan, Hong Kong, Germany and Singapore.
Howevetr, commentators note that despite these expensive jamborees by Chidambaram and other ministers, investment in India's tottering infrastructure have been slow in coming, thanks largely to the heavy control the government exercises as well as difficulties in land acquisition and environmental clearances.
During his visit, Chidambaram will meet with Canadian finance minister Jim Flaherty, governor general of Canada David Johnston and other top officials in the capital Ottawa, and a team of Canadian chief executives at the Canada-India Business Council (C-IBC) and the Canadian Council of Chief Executives as well as leaders of some major Canadian pension plans in Toronto.
Peter Sutherland, president and chief executive officer C-IBC, said that there was a need to expedite the signing of a foreign investment protection and promotion agreement (FIPPA).
Describing Chidambaram's visit as a "historic landmark in Indo-Canada relations", Naval Bajaj, President of the Indo-Canada Chamber of Commerce, said it would strengthen economic ties between the two countries.
Kam Rathee, vice-Chairman of the Canada-India Education Council, said, "It is a very timely visit that will not only promote investment between the two countries but accelerate bilateral trade, social and cultural ties."
