Union commerce and industry minister Kamal Nath has won the ‘Global FDI Personality of the Year’ award from the Financial Times Group magazine FDI, for his efforts to make India an attractive destination for FDI.
Courtney Fingar, editor of FDI, said that Nath has been the driving force behind the FDI investments in India. Fingar also called Nath the “tireless ambassador”, who addressed the concerns of international investors and negotiated domestic policy issues. She said that Nath’s ministry streamlined the process of investment, doing away with multiple approvals from the government and regulatory agencies.
About the investment environment, Fingar said that real estate and compact and sub-compact car manufacturing are other sectors that have the potential to attract large FDI.
Calling the special economic zones the double-edge swords, Fingar said that it could be beneficial for some countries and not for others. “But it does send a signal to the global investors that the government is open to attract FDI,” said Fingar.
Nath along with other five global leaders will be given the award at a ceremony on Friday at New Delhi.
The others who will receive the top honours are Vincent Gadou Kragbe, CEO, Village des Technologies de l’Information et de la Biotechnologie, Cote d’’Ivoire (Africa); Andrus Ansip, prime minister, Estonia (Europe); Sergio Fajardo Valderrama, mayor of Medellin, Columbia (Latin America); Khater Massad, CEO, Ras Al Khaimah Investment Authority (the Middle East); and Henry M Paulson, US Treasury secretary (North America).