New Delhi, December 9, 2004
PTI
Non-resident Indians have offered to invest $2.7 billion for developing
a city within a city, Minister for Non-Resident Affairs Jagdish Tytler
said on Thursday.
He said there has been a lot of interest from non-resident Indians to
invest in their country of origin after the Government created a single
window system to facilitate investments from Indians settled abroad.
Addressing a delegation of Pakistani and Indian businessmen at PHDCCI,
Tytler said 25 million people of Indian origin in all corners of the
world who wanted to invest in India were facing a lot of hurdles.
"Now these hurdles have been removed and a single window clearance
system has been set up", he said.
Tytler said with the creation of Ministry of Non Resident Affairs,
the government has conveyed its intention to facilitate NRI investments
in India
The city within a city was one of the areas where the Government wanted
to attract NRI investments. Other areas in which the Government is keen
to invite NRI investments are education, software, medical technology,
tourism, infrastructure, science and technology, and hospitality business.
Earlier at the meeting, Pakistani businessmen sought changes in Indian
tax rates and visa procedures to stimulate trade between the two countries