Kamal Nath drives in FDI

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Union Commerce and Industry Minister Kamal Nath has been selected as “Global fDi Personality of the Year” by the London based Financial Times’s niche magazine, fDi, (the premier bi-monthly publication that deals with business of globalisation). And why is that? Well! Because Kamal Nath has been a “tireless ambassador” in making India an attractive foreign direct investment (FDI) destination. Of course, he wasn’t alone in receiving this honour. Others who were part of this August League were Vincent Gadou Kragbe, CEO, VITIB, Cote d’’Ivoire (formerly known as Ivory Coast); Andrus Ansip, Prime Minister, Estonia; Sergio Fajardo Valderrama, Mayor of Medellin, Columbia; Khater Massad, CEO, Ras Al Khaimah Investment Authority; and Henry M. Paulson, US Treasury Secretary. The award was presented to Nath and the five other leaders at a function in New Delhi recently. Here is what fDi, the magazine, has to say about our honourableminister: Nath’s ministry“streamlined the process of investment, doing away with multiple approvals fromthe government and regulatory agencies... (under his leadership) new sectors, even politically sensitive ones, such as real estate and retail trade, which has in the past remained firmly shut to foreign investors, are being progressively opened up”. Direct foreign kudos for the Commerce Minister!

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Source : IIPM Editorial, 2008

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