P.Chidambaram arrives in US to pitch for investment in India - Indian Express

PTI : Washington, Wed Jul 10 2013, 10:44 hrs At a time when Indian rupee is a record low, Finance Minister P Chidambaram has arrived here to not only address the US concerns on India's economic policies, but also pitch among investors for a fresh wave of foreign direct investment in key sectors like infrastructure. On a four-day trip to Washington, his second in less than six month, Chidambaram is primarily here to deliver keynote address at the 38th annual leadership summit of the US-India Business Council and meet his American counterpart Jack Lew. He is also scheduled to meet a host of American corporate leaders and lawmakers, who of late have been highly critical of some of the Indian policies in particular those related to intellectual property rights and foreign direct investment. However, the decision of Prime Minister Manmohan Singh to put on hold the contentious Preferential Market Access (PMA) policy is expected to give Chidambaram some comfort level in responding to the charges of the American corporate sector and lawmakers. The move has been welcomed by the US industry. The finance minister, who arrived here yesterday, is scheduled to meet industry representatives later today. He is expected to meet the leading US business leaders including Brad Smith, Microsoft`s General Counsel and Executive Vice President, Legal and Corporate Affairs; Pat Dewar, CEO, Lockheed Martin International; Scott Price, CEO, Asia, Walmart; Henri Croupon, CEO, ILFC and Sheperd W Hill, president, Boeing International. Chidambaram is likely to discuss the issue of investment by US companies in India especially in infra sector, various policy measures taken by the government to boost investment in the country and tax related matters among others. Before leaving for India, he is also scheduled to meet Senator Max Baucus, Chairman, Senate Finance Committee and Senator Mark Warner, Co-Chair, Senate India Caucus. Chidambaram has been pitching for increased foreign investment into India, especially in the infrastructure sector. Also to attract overseas funds, the government has liberalised FDI norms in various sector including multi-brand retail and aviation. ... contd. ALSO READ Rupee up 13 paise Vs dollar in early trade on RBI steps Trump announces launch of his first Indian project in Pune To recover bad loans, banks will now shame the guarantors too Reserve Bank and SEBI step in, apply brakes on Indian rupee free-fall Please read our terms of use before posting comments TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s). via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNF6CEMHdLv1PpR6fZKW8fBVHL3jeA&url=http://www.indianexpress.com/news/p.chidambaram-arrives-in-us-to-pitch-for-investment-in-india/1139985/

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