New Delhi, 7 July: In the wake of a slowdown being witnessed at the foreign direct investment front, Union finance minister P Chidambaram will leave for a four-day official tour to the USA tomorrow with the objective to drum up foreign investment.
During his US visit, the minister will deliver the key-note address at the plenary session of US-India Business Council’s 38th Leadership Summit on 11 July 2013.
During his stay in the US capital, Mr Chidambaram is also expected to meet the leading US business leaders, including Mr Brad Smith, Microsoft`s general counsel and executive vice-president, legal and corporate affairs, Mr Pat Dewar, chief executive officer, Lockheed Martin International, Mr Scott Price, chief executive officer, Asia, Walmart, Mr Henri Croupon, CEO, ILFC and Mr Sheperd W. Hill, president, Boeing International, among others.
The finance minister is likely to discuss the issues being faced by US companies interested to invest in India, especially in the infrastructure sector.
A number of policy measures have been taken by the government to boost investment in the country. The government has recently set up a Cabinet Committee on Investment (CCI) for speedy clearance of large infrastructure projects. India requires investment to the tune of $1 trillion in the 12th five-year Plan for development of infrastructure.
The FM will also meet his US counterpart and US treasury secretary Jacob Lew.
He is also expected to meet Senator Max Baucus (D-MT), chairman, Senate Finance Committee and Senator Warner (D-VA), Co-chair, Senate India Caucus during his stay in Washington DC. sns