Chidambaram in US to woo investors

July 10, 2013 10:31

At a time when Indian rupee is a record low, Finance Minister P Chidambaram has arrived in Washington to not only address the US concerns on India's economic policies, but also pitch among investors for a fresh wave of foreign direct investment in key sectors like infrastructure.

On a four-day trip to Washington, his second in less than six month, Chidambaram is primarily here to deliver keynote address at the 38th annual leadership summit of the US-India Business Council and meet his American counterpart Jack Lew.

He is also scheduled to meet a host of American corporate leaders and lawmakers, who of late have been highly critical of some of the Indian policies in particular those related to intellectual property rights and foreign direct investment.

However, the decision of Prime Minister Manmohan Singh to put on hold the contentious Preferential Market Access (PMA) policy is expected to give Chidambaram some comfort level in responding to the charges of the American corporate sector and lawmakers. The move has been welcomed by the US industry.

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