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| World Home » Business » | Mon. Sep 8, 2008 |
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Kamal Nath named global ‘FDI Personality of the Year’ MIL/ANI, Jul 20, 2007. New Delhi, July 20, 2007 - Union Commerce Minister Kamal Nath has been named global “FDI Personality of the Year 2007” by FDI magazine and Financial Times Business, published by London-based Financial Times Group. The award has been given in recognition to his “active efforts to attract foreign businesses to India, boost exports, and promote trade and investment,” says the citation by the premier publication, which reports on the issues and developments that corporate executives consider while making international investment decisions. “The results of which have been a substantial increase in FDI (Foreign Direct Investment) inflows to India and a rise in export volumes last year, contributing to the continued economic development of the country and adding to its attractiveness as an investment location,” it adds. It further says, “Each year, with our Personality of the Year awards, we recognize the political and business leaders around the world who have been the most proactive, dynamic and innovative in securing foreign investment and improving the business environments of their jurisdictions.” Regional winners are selected for Asia, Africa, Europe, Latin America, the Middle East and North America; out of these candidates a global winner is chosen. Nath has now joined the ranks of previous winners, which include Mexican President Vincente Fox (2003), Brazilian President Luis Inacio Lula da Silva (2004), Mayor of Seoul Lee Myung-bak (2005) and Premier of Ontario Dalton McGuinty (2006). Reacting to this award, Nath said that India’s exports have almost doubled from Rs.293367 crore in 2003-04 to Rs.563800 crore during 2006-07. India’s exports grew at an average annual growth rate of about 25 per cent during the past three years. The FDI equity inflows during the year 2003-04 stood at Rs.10237 crore and have risen to Rs.70630 crore during the year 2006-07, amounting to a cumulative growth of 700 per cent. The percentage growth during 2004-05 was 44 per cent over the previous year. During 2005-06, it grew by 72.29 per cent while in 2006-07, the percentage growth is 183.56. (ANI)
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