India plans to create a special centre to attract investments from overseas Indians as also to facilitate creation of a global Indian consortium to work with apex trade bodies, states of India and various associations of overseas Indians.
Announcing this at the India Calling 2006, an India-UK Business Summit in London that he inaugurated, Overseas Indian Affairs Minister Vayalar Ravi said he hoped the proposal would be finalised before the next Pravasi Bharatiya Diwas, scheduled to be held on January 9 in New Delhi.
The government plans to set up an Overseas Investment Centre that would be a single point contact at the national and state level and provide investment advisory services on taxation, legal requirements, information on capital market investment and opportunities to invest in the real estate, G Gurcharan, Joint Secretary in the ministry told the gathering.
Addressing the meet, London Mayor Ken Livingstone announced that his administration would open offices in Mumbai and New Delhi as he said the United Kingdom and India were inextricably linked at the level of the municipalities and business.
He said he saw the future of India's economy as staggering for the future of humanity, adding that he would not be surprised if India took over a large share of the British economy.
Lord Karan Billimoria, chairman, Indo-British Partnership Network and chief executive of Cobra Beer, pointed out that several obstacles were hampering investors from entering the Indian market.
Anil Deshmukh, Maharashtra's Minister for Public Works, said his state government would extend a red carpet welcome to investors.