FM to leave for US Monday; FDI tops agenda

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SME Times News Bureau | 08 Jul, 2013
Finance Minister P. Chidambaram will leave New Delhi on Monday for a four-day visit to the United States during which he will meet US Treasury Secretary Jacob Lew and business leaders towards seeking foreign direct investment (FDI) and foreign institutional investors (FIIs) inflow to India.

"The finance minister 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," a finance ministry statement said in New Delhi.

During his visit July 9-12, Chidambaram is expected to meet US corporate leaders, including Microsoft's executive Vice President Brad Smith, Lockheed Martin International CEO Pat Dewar, Asia Walmart CEO Scott Price, ILFC CEO Henri Croupon, and Sheperd W. Hill, president, Boeing International, the statement added.

The finance minister will also deliver the key note address at the US-India Business Council (USIBC) leadership summit July 11.

Chidambaram is also expected to meet US senator Max Baucus, chairman, Senate Finance Committee and senator Warner, co-chair Senate India Caucus, during his stay in the US capital.

Chidambaram will meet US Treasury Secretary Jacob Lew during his visit and is expected to meet senator Max Baucus and other senior officials during his stay there, the statement added.

Towards attracting foreign investments, India has liberalised foreign direct investment (FDI) norms in various sectors including in multi-brand retail and aviation.

The government has also recently set up a Cabinet Committee on Investment for speedy clearance of large projects.