Industry & Economy
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Foreign Direct Investment
Now, NRIs favour `Investment Regions'
Our Bureau
New Delhi
,
Dec. 19
THE next step after special economic zones (SEZ) would be investment regions (IR) that will help attract large amounts of foreign direct investments (FDI) into the country.
As the first step towards IR, a group of non-resident Indians, including Mr Purnendu Chatterjee of the Chatterjee Group, and Mr Romesh Wadhwani called on the Prime Minister, Dr Manmohan Singh, and urged him to set up IRs. Briefing presspersons after the meeting, Mr Wadhwani said that the first area of investment would be the chemicals and petrochemicals sector. The NRI group is trying to co-ordinate between global players in this sector and various State governments.
Representatives of 30 global petrochemical companies have held discussions with five State Governments - West Bengal, Andhra Pradesh, Gujarat, Karnataka and Orissa.
"The net outcome of the discussions is that these global investors would now study in the product categories they would be interested to enter into India," Mr Wadhwani said.
The Investment Regions, as proposed by these NRIs, should have large land in the range of 2,000-20,000 acres that can house several industrial complexes.
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