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Our Bureau

New Delhi , Nov. 17

THE Government plans to announce the creation of a special purpose vehicle that will facilitate investments by overseas Indians.

The formal announcement will be made at the fourth Pravasi Bharatiya Divas that begins in Hyderabad on January 7.

"The proposal is still to be firmed up," senior Government officials said when asked for details about the creation of the SPV.

The other Government initiatives likely to be announced at the meeting included a collaborative research institution and an e-based Indian diaspora knowledge network that would facilitate global information exchange and networking between overseas Indians and India, an official statement issued here on Thursday said.

The Prime Minister, Dr Manmohan Singh, will inaugurate the three-day conference, while the President, Mr A.P.J. Abdul Kalam, will honour distinguished overseas Indians with the Pravasi Bharatiya Samman on January 9.

The event will comprise a series of plenary sessions that will offer overseas Indians an opportunity to directly interact with decision makers from diverse sectors including, finance, banking, health, education, science and technology among others.

The event is being organised by the Ministry of Overseas Indians Affairs along with the Andhra Pradesh Government and the Federation of Indian Chambers of Commerce and Industry.

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