FinMin to organise India Investment Summit on Feb 4-5

In order to attract investments in infrastructure sector, the Finance Ministry will organise a two-day India Investment Summit from February 4, which would see the participation of various global investors. "India Investment Summit organised by Finmin will be held in New Delhi on February 4-5. Global long-term investors will participate," Economic Affairs Secretary Shaktikanta Das tweeted today.

India has been trying to attract foreign investment for Make in India campaign with a view to boost economic growth and generating employment. Other economic ministries, Roads, Highways, Oil and Gas and Railways are expected to participate in the summit. Various global private equity funds and sovereign wealth funds (SWFs) are likely to participate in the event, which is being organised by the Finance Ministry.

The ministry is seeking participation from SWFs for the Rs 40,000 crore National Investment and Infrastructure Fund (NIIF), which will act as a nodal agency for fund long-term projects, including stalled ones. The ministry is in the process of finalising the first set of foreign investors in NIIF. Since coming to power in May 2014, the NDA government has relaxed foreign direct investment norms in over a dozen sectors including defence, banking, railways, construction and medical devices.

Finance Minister Arun Jaitley has on several occasions said the country needs to attract foreign investment to supplement domestic efforts to accelerate growth.