Journalism of Courage
With a view to seek foreign investments,Finance Minister P Chidambaram will be visiting Dubai tomorrow to sell India8217;s growth story to sovereign wealth funds.
The Minister is scheduled to meet his counterpart in Dubai and also hold bilateral consultations with the SWFs Sovereign Wealth Funds in his day-long visit to the Gulf nation,an official source said.
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The visit is part of Chidambaram8217;s global tour to attract foreign investments. He has held similar investor meets in Hong Kong,Singapore,Europe including Germany,Japan,Qatar,Canada and the US to attract foreign investment into India.
Chidambaram has been emphasising that India offers 8220;unlimited8221; investment opportunities in the infrastructure sector and the country is looking at spending around USD 1 trillion over five years in areas such as roads,airports and seaports.
During his latest tour,the Finance Minister had said he told investors and the government there that there is a huge opportunity in India,especially in infrastructure.
India is betting big on foreign resources to finance the Current Account Deficit CAD,which had widened to 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 India8217;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.
