labels: economy - general, infrastructure - general
Indo-US CEOs Forum to set up $5-billion fund for infrastructure projectsnews
27 October 2006

Union commerce minister Kamal Nath today said that the Indo-US CEOs Forum has offered to assist in financing infrastructure projects in India by setting up a $5-billion fund if it could be managed with minimum government participation

He said the government would receive a proposal on this in the next few weeks.

An agreement on the mechanism for setting up the fund was discussed at a meeting of the forum in New York and attended by the finance minister P Chidambaram and deputy chairman of the Planning Commission Montek Singh Ahluwalia and the commerce minister.

Nath also said that several American companies had shown an interest in retailing farm products, though the field is not yet open to foreign companies. However, they could invest in cold storage and logistics of farm products, he said as farmers lose a large amount of their produce because of inadequate storage and transport facilities.


 search domain-b
Indo-US CEOs Forum to set up $5-billion fund for infrastructure projects