Arun Jaitley in US to woo back FIIs, top investors
17 June 2015
Finance minister Arun Jaitley has embarked on a nine-day visit to the United States where he will meet with top CEOs of financial companies and investment funds to assuage fears of taxation in India that prompted a pull-out of short-term foreign investments from Indian stock markets.
Jaitley on Tuesday also joined a road show in the US, the first in a series in his nine-day itinerary across three cities to project India's growth story to investors and think tanks to attract investment.
Jaitley will meet business communities during his trip besides addressing top business schools and think tanks but won't hold any official meetings.
However, he will not be meeting his American counterpart Jacob Lew, finance ministry sources said.
At a luncheon meeting with executives of top US companies, organised by FICCI in New York today, the finance minister will appraise them of the broad policy agenda for reviving India's growth while balancing inflation and what India expects from long-term investors and strategists to support its growth agenda and how the government is focused on making India an easier destination to do business.
He will also give details regarding the role the foreign investors and companies can play in building infrastructure in sectors like power, roads, highways and ports, among others.
Jaitley will also hold meetings with the management of New York Stock Exchange (NYSE) and select top CEOs of US financial companies.
On Friday, he will address a select gathering of portfolio managers of FIIs as well as executives of US companies operating in India, including banks, insurance and pension funds, infrastructure and manufacturing companies, defence firms and pharmaceutical corporations.
The finance minister will also hold meeting with about 150 members of Council for Foreign Relations (CFR) and explain in detail the likely prospects of Indian economy, investment opportunities in India and development of infrastructure among others. In the evening, he will hold meetings with USIBC AND FICCI executives and discuss about reform measures put in place by his government to make India a top investment destination.
On the morning of 19 June 2015, Jaitley will give a talk on 'One Year After: Progress on Economic Reforms in India', at the Columbia School of Business.
There he will brief the students, alumni and faculty of Columbia University on how the Modi administration delivered on its promises - particularly its plan for economic growth.
In the afternoon on 19 June 2015 the finance minister will leave for Washington DC. In the evening, he will give a talk on ''Putting India back on track: a pathway to digital growth'' at American Enterprises Institute in Washington DC.
During his stay in Washington DC, the finance minister will also meet top CEOs/senior officials of US companies. He will also address a press conference with those representing Indian media in US and the US media. He will leave for San Francisco 21 June.
In San Francisco, the finance minister will address the celebrations organised to mark the occasion of the International Day of Yoga on 21 June 2015. Jaitley will also address the participants on the issue of ''India's Economic Future'' at an event organised by Stanford Institute for Economic Policy Research (SIEPR) during his stay in San Francisco. He will also interact with TiE leadership and hold discussions on ''India: New Land of opportunity'' He will hold meetings with the foreign investors during his three day stay in San Francisco.
On the morning of 24 June, Jaitley will leave for home and will reach the national capital on 25 June. Finance secretary Rajiv Mehrishi is accompanying the finance minister.