In order to get investment for promoting service industry projects in Northern India, the International Punjabi Chamber for Service Industry(IPCSI) is organising the fourth Parvasi Punjabi Divas 2007, a global investors conference, on January 11, in Chandigarh. |
More than 200 potential NRI investors are expected to participate in the conference. |
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The IPCSI is a body of NRI professionals, investors, entrepreneurs etc, besides trade, commercial, educational and cultural experts & organisations in countries where they are settled and the domestic corporate in India. The body serves as a conduit for promoting the service industry and overall cross-cultural relations. |
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Speaking to Business Standard, IPCSI Secretary General Gulshan Sharma said: "As development requires massive investments, which can come from various avenues such as FDI, FII, institutional financing, government's own resources, private investments and from the Non resident Indians. The foreign direct investment flows into India is expected to surpass the eight billion mark in 2005-06 as against 3.75 in 2004-05. So, the aim of the conference is to garner investments from all the sources for promoting service industry projects in Northern India." |
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He added the Indian diaspora, estimated over 25 million have roots in almost every country across the globe, of which 8 million hail from Punjab. So they can help catapult Northern region to higher growth by supporting and promoting environmental, economic, social and educational causes by bringing in technical and scientific know how, financial resources, entrepreneurial spirit and proven ideas. |
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He further added Northern Indian states such as Punjab, Haryana, Himachal Pradesh, Uttranchal, Chandigarh with Jammu & Kashmir constitute are rich in history and culture with many common economic linkages. |
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These states are also vigorously promoting their service industry to join the knowledge economy and become primary contributors to national development. Northern India is emerging as the capital for integrated service Industry development. |
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"So to promote Northern India as a service Industry destination, both public and private sectors will have to join hands. In fact, the private sector, with its professional maturity and resources, will have to play a more active role in developing public infrastructure and other facilities and to make service Industry a vital segment of the regio's economy, so keeping in view we are organising this congference," he said. |
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The focus areas of summit are infrastructure & Real estate, Institutional Finance, Banking & Insurance, Retail shopping malls & multiplexes, Roads & Bridges, power generation, etc. |
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