Chidambaram visits US, to woo investors

Finance Minister P Chidambaram will be on a week's visit to the US beginning Wednesday to woo foreign investors and attend the annual meeting of the World Bank and the International Monetary Fund.

According to a finance ministry statement here, Chidambaram will attend annual plenary meetings of the IMF and the World Bank on Oct 11 and 12.

Besides, Chidambaram will also participate in BRICS (Brazil, Russia, India, China and South Africa) finance ministers’ and central bank governors’ meeting, G-24 ministerial meeting and G-20 finance ministers’ and central bank governors’ meeting during his stay in Washington Oct 9-12.

“In G-20 finance ministers’ meeting, recent developments in global economy and financial sector vulnerabilities, IFA (Individual Flexibility Arrangements) reforms, financing for investment and strengthening of G-20 process are likely to be discussed among others,” the finance ministry said.

The finance minister is also scheduled to attend the India-US Economic and Financial Partnership Dialogue before departing for San Francisco on Oct 13, during the second leg of his visit.

“During his stay in San Francisco, the finance minister will interact with the investors and highlight India as a highly attractive destination for investment,” it said.

Chidambaram is scheduled to return to India Oct 16.