India's Finance Ministry is organising road shows in the Gulf region in a bid to attract investments from aboard.
Faced with sliding value of rupee, the ministry has decided to organise roadshows in the hope of bringing in investments of $90bn in the next two years, The Hindu Business Line reported.
A rapid pace of more than 9 percent expansion before the 2008 global financial crisis has softened to just 5.3 percent in the March quarter, the weakest in India in nine years.
The roadshows will kick off in Saudi Arabia, Dubai, Kuwait, Bahrain and Oman and are being organised by the Department of Economic Affairs (DEA) in the Ministry of Finance, between June 10?14.
The road shows will then continue in Europe and the US.
?We want to tell foreign investors that there is tremendous opportunity for investment in India. We will address their apprehensions, if any, about investments here,? DEA secretary R Gopalan said in comments published by the Indian paper.
Large fund houses in the Gulf region have shown interest in investing in India, another ministry official said.
During the shows, the Finance Ministry will highlight changes such as the liberalisation of the external commercial borrowings norms and measures taken to deepen India?s bond market, the paper added.
The Indian Government last month permitted residents of Gulf states and all EU nations to invest directly in stock markets.
The relaxation in overseas investment norms for individual investors is aimed at making the country a more attractive offer to potential overseas investors.
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