“In tourism, India is incredible, and for business, India is credible” - Kamal Nath addresses the Golden Jubilee Convention of Delhi Management Association

for Ministry of Commerce & Industry | Date - 07-02-2006

The Union Minister of Commerce & Industry, Shri Kamal Nath has today said that the sole purpose of inviting foreign investment into India is to build infrastructure and to create more and more employment opportunities for the skilled and unskilled workers, so that the lives of 650 million people engaged in subsistence agriculture can be transformed. He was delivering the valedictory address at the Golden Jubilee Convention of the Delhi Management Association, here.

Taking note of the commanding position that India has earned in the field of information technology, Shri Kamal Nath said that not only the perception of the world about India was changing, “even our own perception about ourselves is witnessing a major shift. At a time when much of the developed world is ageing, nearly 60 percent of India’s population is below 25, and raring to go”, he remarked. Coupled with a vibrant democracy, rule of law and investor-friendly business environment, India had emerged as a very credible destination for investment, he added.

“Not only is the vast market that India possesses attracting international business and finances, but the world’s leading industries are seeking those skills that are being reared within the country. A once negative phenomenon, the brain drain, which had adversely affected the country’s development activities, has been reversed. As India’s prestige and its stake in the world’s human resource markets rises, our young graduates who had gone abroad seeking greener pastures, are now returning with a richer experience, to head multinational offices in India. It is with an exalted sense of pride that we can assert that Indian expertise is everywhere today. In fact, the theme at the World Economic Forum at Davos last month was ‘India Everywhere’. In India we no longer talk of us being merely a BPO (Business Process Outsourcing) hub, but we want to move on to become a KPO (Knowledge Process Outsourcing) and EPO (Engineering Process Outsourcing) hub,” Shri Kamal Nath said.


(Release ID :15393)

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