Huge opportunity for foreign investment in India: FM

There is a huge opportunity for foreign investment in India as the government focuses on rapid infrastructure development in the country, Finance Minister P Chidambaram said. Chidambaram said on Friday that the total investment requirements for power, roads, ports, civil aviation during the 12th Plan period is projected at USD 1 trillion, nearly half of which is expected to come from the private sector. This provides an ample opportunity for foreign investments to reap benefits from the high returns from India, said Chidambaram, who is here to attend annual plenary meeting of International Monetary Fund and the World Bank. Chidambaram cited the Delhi Mumbai Industrial Corridor as an example, that will entail over USD 90 billion in investment linking Delhi to Mumbai's ports, covering an overall length of 1483 km passing through six States. This project will have nine mega industrial zones of about 200-250 sq.km. each, high speed freight lines, three ports, six airports, a six-lane intersection-free expressway connecting the country's political and financial capitals, and a 4000 MW power plant, providing a plug-and-play environment for manufacturing investment, he said.
Read news in full 12/10/13 PTI/moneycontrol.com