Nath stresses on regional ties, SSIs for growth

Commerce and Industry Minister Kamal Nath today said the government was focusing on further improving the investment climate in the country through a series of legal and administrative reforms.

Addressing the "Focus India" event in Chicago, Nath said India was looking for greenfield investment in FDI which included not just investment but technology transfer and technology exchange.

He also said India was keen to identify appropriate synergies with the small scale sector."Wtih the vast technical and managerial skills available, Indian and American SMEs can join hands to cater to not only the vast Indian market but also the untapped markets in Asia and Africa," the minister said.

He said India's exports were expected to trouch $100 billion this year and imports were likely to be $150 billion. "Our economic engagement with the world is now worth $250 billion a year. And if we add our services sector exports and imports, this would top $300 billion," he said.

Nath said India was engaging in a number of regional trade agreements with SAARC as well as with South East Asia. "Road links are opening up with South East Asia through Bangaldesh and Myanmar, relations with Pakistan are also improving fast," he said.

Citing the findings of a recent AT Kearney poll, Nath said India ranked number three in 2004, despite the sixth spot in 2003 .