Overseas Investment Promotion Council of India

India has been and continues to be a capital importing country. However, with large foreign exchange reserves of about US$280 billion, India should consider using these reserves to lend to Indian business firms investing in foreign countries. In this connection, it would be useful to  establish  Overseas Investment Promotion Council of India. (India Investment Centre focuses on attracting inward investment.)

To begin with, the council should facilitate Indian  investment in foreign countries in sectors such as exploration of oil and gas, mining of minerals including rough diamonds, lead ore & zinc ore, production and processing of edible oil seeds & pulses, and raw cashew nuts on production sharing system. India at presents imports all the above items and it would be useful to have reliable sources of supplies. The investment may be in the form of joint venture involving the Government of India, Indian business firms and companies in foreign countries where the projects are to be located.

India at present invests its foreign exchange reserves mainly in central banks of  developed countries with negligible interest rates.

Agricultural lands can be taken on lease countries like Guyana, Suriname and countries of East Africa as well as West Africa.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: