NRIs will discuss investing in India at Singapore meet (Special)

               By Kul Bhushan

      Around 600 wealthy NRIs will gather in Singapore next month to discuss investing in India. They will be in the company of the cre`me de la cre`me of industry, academia and leaders of the governments of Singapore and India.

      This is the Pravasi Bharatiya Divas (PBD), to be held Oct 9-12, a premier international conference organised by the Singapore Indian Chamber of Commerce & Industry (SICCI), the Ministry of Overseas Indian Affairs (MOIA) and the Confederation of Indian Industry (CII), with the support of the governments of Singapore and India.

      This business-focused conference in Singapore reaches out to the Indian diaspora in the Asia-Pacific region and beyond.

      Here is a 'regional' PBD, according to sources in MOIA. Regional PBDs are held in response to many requests to host the main PBD outside India. Since the main event is held in India, the ministry agreed to hold regional PBD events in other parts of the world.

      Many countries have requested MOIA to host such events in the future and these may be held in Europe, Africa or the Caribbean. The first regional PBD was organised in New York last year and now the second one is in Singapore next month at the request of the Singapore government that is supporting it and also partly financing it.

      Considering the progress of the Indian economy, Singapore wants to appear as the gateway to India from the East and the gateway for Indian companies to reach out to the Asia Pacific region.

      The event is in the interest of both India and Singapore to increase their business, economic, political and cultural relations. Special focus is investment both into India and Singapore. The leading speakers from Singapore include President S.R. Nathan (an NRI); Lee Hsien Loong, the prime minister; Goh Chok Tong, senior minister; Lee Kuan Yew, the former prime minister and minister mentor; S. Jayakumar, deputy prime minister; and captains of business and industry.

      The line-up from India is also impressive: Vayalar Ravi, minister for overseas Indian affairs; Kamal Nath, minister for commerce and industry; Kapil Sibal, minister of science & technology; Sam Pitroda, chairman, National Knowledge Commission; Rajendra Kumar Pachauri, chairman of the Nobel-winning Intergovernmental Panel on Climate Change; and top industry and business leaders, including K.V. Kamath, managing director, ICICI Bank, and the president, Confederation of Indian Industry.

      Other speakers, including a few non-NRIs, have been invited from India, Singapore, the US and the Gulf; but mostly from Singapore and India. About 500 to 600 delegates, at least 95 percent NRIs, from Asia and the Pacific region are expected to attend and some may come from the Gulf and other countries as well.

      The chambers of commerce of Asian countries and some Indian states scouting for foreign investment will be represented along with top executives of regional development organisations. As India and the rest of South Asia emerge as key players within the new world economic order, SICCI is well poised to offer great advantages to businesses in Singapore and India through its constantly expanding global network.

      The recent protests against Tata's car plant at Singur can cast a shadow on India's investment prospects but the investors know that it occurred in West Bengal as a reflection of its politics and culture and this situation is not prevalent in other states of India. Moreover, the Indian government can counter the negative fallout.

      The programme takes off with a high powered welcome reception Oct 9 hosted by minister Ravi and Balaji Sadasivan, senior minister of state in the Ministry of Foreign Affairs, Singapore, and where other speakers will include Kamath, S. Jayakumar, and Vijay Iyengar, chairman of SICCI.

      Loong, the Singapore prime minister, is the guest of honour at the opening the next morning. "The Scenarios for the Next Generation" will be discussed at lunch with Tong, Singapore senior minister. The session "From Lab to Market" is tailormade for minister Sibal from India. The core issue of finance and banking will be moderated by Lee Kuan Yew. At the gala dinner, Singapore President Nathan will be the guest of honour.

      The next morning, a number of concurrent sessions will explore issues such as sustainable development - which way next?, youth and education, arbitration and business dispute resolution - the Way Forward, tourism and hospitality, and infrastructure - access, connectivity and growth. The closing session in the afternoon will have as its theme, Asia Pacific diaspora - towards a dynamic diaspora.

      In case you want to attend, the closing date for registration is Sep 19 at Singapore $500 per person; more details from www.pbdsingapore.com.sg.

      (Kul Bhushan previously worked abroad as a newspaper editor and has travelled to over 55 countries. He lives in New Delhi and can be contacted at kulbhushan2040@gmail.com)

      Indo-Asian News Service

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