Chidambaram to visit Dubai tomorrow to seek investments
25 May 2013
Finance Minister P Chidambaram is scheduled to visit Dubai on Sunday to sell India's growth story to sovereign wealth funds, in a bid to get them to invest in India's infrastructure.
During his day-long visit, Chidambaram is scheduled to meet his UAE counterpart and also hold bilateral consultations with the Wealth Funds.
The visit is part of Chidambaram's global tour to attract foreign investments.
He has so far held investor meets in Hong Kong, Singapore, Germany, Japan, Qatar, Canada and the US, where he has tried to impress upon his audiences India's "unlimited" investment opportunities in India, especially in infrastructure building.
Infrastructure sector investment opportunities in India have been billed as an over $1 trillion opportunity over five years with investments needed on roads, airports and seaports.
the finance minister is betting on foreign investments to finance the current account deficit, which according to various reports has bloated to a record high of 6.7 per cent in October-December quarter of 2012-13.
In his earlier meetings with the investor community, Chidambaram had expressed India's commitment to economic reforms.
He also highlighted the measures proposed in the Budget 2013-14 for investments and markets to help the economy grow at 6.1-6.7 per cent.
.webp)
