New Delhi: With a view to attracting foreign investments, Finance Minister P Chidambaram will visit Dubai on May 26 and engage with sovereign wealth funds to sell the India growth story.
The Minister is scheduled to meet his counterpart in Dubai and also hold bilateral consultations with the SWFs (Sovereign Wealth Funds) in his day-long visit to the Gulf nation, an official source said.
The visit is part of Chidambaram's global tour to attract foreign investments. He has held similar investor meets in Hong Kong, Singapore, Europe, Japan, Germany, Frankfurt, Canada and the US to attract foreign investment into India.
Currently, he is on the last leg of a 3-nation tour of the UK, France and Qatar on a similar mission. Chidambaram has been emphasising that India offers "unlimited" investment opportunities in the infrastructure sector and the country is looking at spending USD 1 trillion over five years in areas such as roads, airports and seaports.
"What I am telling the investors here and the government is that there is a huge opportunity in India, especially in infrastructure," he said during the latest tour.
India is betting big on foreign resources to finance the Current Account Deficit (CAD), which has widened to record high of 6.7 percent in October-December quarter of 2012-13. In his earlier meetings with the investor community, Chidambaram had expressed India's commitment to economic reforms.
He also highlighted the measures proposed in the Budget 2013-14 for markets and investments to help the economy grow at 6.1-6.7 percent.


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