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NEW DELHI, Oct.17

THE perception about India as a destination of international investment is fast improving, according to experts speaking in the ASEAN Business Summit session on Trade, Investments, Finance and Tourism.

This is supported by recent developments which has helped the country record a positive growth in foreign direct investment (FDI) last year, when globally FDI recorded negative growth, according to experts.

The summit organised jointly by the Federation of Indian Chambers of Commerce and Industry (FICCI), the Ministry of External Affairs and the Ministry of Commerce and Industries, highlighted on the various advantages of increased trade between ASEAN partner countries, which may go up many fold.

Speaking on the occasion the Secretary in the Department of Industrial Policy and Promotion, Mr V. Govindarajan, pointed out that India offers the highest rate of return on FDI compared to other countries, according to the findings of the World Investment report.

Mr Govindarajan said that a special meeting of the Foreign Investment Implementation Authority (FIIA) would be held to sort out the problems faced by the investors from these countries.

The Secretary in the Department of Commerce, Mr Dipak Chatterjee, said that there is a need to have a preferential trade agreement between the ASEAN partner countries. This, he said, will boost bilateral ties, and noted that the domestic automobile industry had been urging for such an arrangement strongly.

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