ECONOMY-INDIA: FOREIGN INVESTMENTS GO SUPERSONIC AN INTER PRESS SERVICE FEATURE
NEW DELHI, Nov 15 (IPS) - INDIA'S ECONOMIC PLANNERS COULD NOT HAVE DREAMT UP BETTER SYMBOLISM: THE SUPERSONIC AIRLINER CONCORDE ZOOMING OFF INTO THE WIDE BLUE YONDER WITH A GROUP OF BRITISH AND INDIAN BUSINESSMEN ON BOARD.
THAT IS EXACTLY WHAT IS GOING TO HAPPEN WEDNESDAY WHEN THE CONCORDE TAKES OFF FROM THE EASTERN CITY OF CALCUTTA FOR A TWO- HOUR FLIGHT OVER THE BAY OF BENGAL AT TWICE THE SPEED OF SOUND.
THE CONCORDE FLEW INTO CALCUTTA MONDAY NIGHT WITH MORE THAN 80 BRITISH ENTREPRENEURS LED BY THEIR TRADE MINISTER RICHARD NEEDHAM, TO TIE UP DEALS WITH LOCAL BUSINESS.
AS INDIA THROWS OPEN ITS DOORS TO FOREIGN BUSINESS, THE WORLD'S RICHEST NATIONS ARE KNOCKING ON ITS DOOR DRAWN BY ITS HUGE MIDDLE CLASS CONSUMER MARKET AND THE FUND-STARVED ENERGY, TRANSPORT AND TELECOMMUNICATION SECTORS.
NEARLY FOUR YEARS AFTER THEY STARTED ECONOMIC REFORMS, THE ARCHITECTS OF THE PLAN ARE HOPING A NEW FLOOD OF FOREIGN BUSINESS INVESTMENT WILL HELP THE LOW INCOME SOUTH ASIAN NATION CATCH UP WITH EAST ASIA'S ECONOMIC TIGERS.
THE UNITED STATES AND BRITAIN, THE NUMBER ONE AND TWO INVESTORS IN INDIA RESPECTIVELY, ARE SHOWING KEEN INTEREST AND INDIAN PLANNERS ARE UPBEAT.
U.S. TRADE SECRETARY RON BROWN ARRIVES IN INDIA EARLY NEXT YEAR AND HIS JUNIOR JEFFREY GARTEN, WHO IS IN TOWN TO PREPARE FOR BROWN'S VISIT, SAID MONDAY INDIA IS ONE OF 10 NATIONS SHORTLISTED BY WASHINGTON FOR INCREASED BUSINESS TIES.
"MOST U.S. FIRMS WITH AN INTERNATIONAL OUTLOOK MOUTH ONLY TWO NAMES -- CHINA AND INDIA," GARTEN TOLD REPORTERS HERE. LAST YEAR, U.S. BUSINESS INVESTMENT IN INDIA MORE THAN DOUBLED TO 1.1 BILLION DOLLARS COMPARED TO 1992.
BRITISH OFFICIALS WITH THE CONCORDE TEAM EXPECT THE TRIP TO PRODUCE INVESTMENTS WORTH 1.78 BILLION DOLLARS IN INDIA, MOSTLY FROM LARGE BRITISH CORPORATIONS.
AND IT IS FITTING THAT THE AIRLINER IS POWERED BY ROLLS ROYCE ENGINES. THE BRITISH CAR AND ENGINE MANUFACTURER THIS YEAR FINALISED A DEAL WITH INDIA'S R.P. GOENKA GROUP TO MAKE INDIAN THERMAL POWER STATIONS MORE EFFICIENT.
ROLLS ROYCE IS LOOKING FOR MORE TIE UPS TO HELP PLUG INDIA'S ENERGY DEMAND AND SUPPLY GAP WHICH IS HOLDING UP INDUSTRIAL DEVELOPMENT. TWO THIRDS OF THE NEARLY 75,000 MW ELECTRICITY PRODUCTION IS FROM THERMAL POWER PLANTS.
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