National   

PM: invest surplus liquidity in India

MUSCAT: Prime Minister Manmohan Singh, at a meeting with industry representatives of Oman on Sunday, called upon them to invest surplus liquidity into key infrastructure sectors in India.

“We are determined to create a hospitable climate for investment, particularly foreign investment from friendly countries like Oman,” he said.

In particular, the Prime Minister saw potential for cooperation in the energy, fertilizers, IT, tourism and education sectors. “Businessmen from both countries should also explore possibilities of joint ventures in third countries.”

Against the background of the current international economic and financial situation, there was an “even greater need” to join hands to shape counter-cyclical growth strategies by focusing on the real economy. “India and Oman are well placed to convert this challenge into an opportunity. We count on you to be the architects of this magnificent change,” he said.

Acknowledging that the large Indian community in Oman serves as a bridge with India, the Prime Minister assured that the government was “constantly alive” to the welfare of the non-resident Indian community.

At this meeting as well in his interaction with the Indian diaspora, the Prime Minister underlined the importance of the Gulf region to India. “It is part of our extended neighbourhood, and home to five million Indians. It is the largest source of our energy supplies. We have active trade and investment interests. Piracy, criminal activities and terrorism on our seas and land threaten the Gulf countries and India as well,” he said.

Complimenting Minister of Overseas Indian Affairs Vayalar Ravi on taking several initiatives in the last few years for the benefit of the Indian diaspora, he noted that the Ministry was in the process of establishing Overseas Indian Community Welfare Funds in all the Indian missions in the Gulf.

The Overseas Workers Resource Centre, which is a toll-free helpline, has been established for Indian workers in the Gulf. India has also created an Overseas Indian Facilitation Centre to provide opportunities for non-resident Indians to invest in India and will soon introduce a scholarship scheme for their children.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Electioneering a major challenge in Bastar
Classical language status: Kerala to lay claim
Don’t link terrorism with religion: Jamiat
Not a drama: Nitish Kumar
Sadhvi’s arrest political conspiracy, says BJP
PM: invest surplus liquidity in India
Another accused presented in court
Insurance cover for more plantation workers
Ansari to represent India at Maldives
Advani cautions media
Secretariat to shift to winter capital Jammu
Boy falls into borewell, dies
‘Nothing can stop Hogenakkal project’

Copyright © 2008, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu