Business Daily from THE HINDU group of publications
Tuesday, Nov 21, 2006
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Business Daily from THE HINDU group of publications Tuesday, Nov 21, 2006 ePaper |
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Foreign Direct Investment Government - Policy `No curbs on FDI from any country' Our Bureau
New Delhi , Nov. 20 The Commerce and Industry Minister, Mr Kamal Nath, today made it clear that foreign direct investments into India were welcome from all countries. He also said that the contention in certain quarters that investments from certain countries are coming under greater security scanner was misplaced. "There is no question of any country specific FDI scanner. We welcome investments from all countries. We welcome Chinese investments and look forward to more investments from them," he told newspersons when asked whether the investment regime was rather unduly restrictive for Chinese investments. He said the Government was looking to put in place certain regulatory framework that would take care of security concerns on FDI. "All the countries including the EU and the US have regulatory frameworks by way of laws and regulations to address their security concerns in FDI. In India, we have also been proposing to do the same. I don't see anything wrong in that. We are not thinking of something extraordinary. The other countries are having it," Mr Kamal Nath said. The Commerce and Industry Minister said the various issues related to this were being examined and to make sure that they could be easily implemented. "I cannot say that this should be done through a legislation or otherwise. There is no proposed law as of now," he said. Mr Kamal Nath also said that seven-eight agreements are likely to be finalised during the visit of the Chinese President, Mr Hu Jintao. He, however, declined to elaborate on those agreements.
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