India to participate in diaspora summit in Singapore

India will participate in a diaspora convention in Singapore in July with six international financial institutions, including the World Bank, where opportunities of project financing in South Asia, particularly India, are likely to be discussed.

The South Asian Diaspora Convention (SADC) scheduled from July 18 to 20 will be attended by Minister of Road Transport and Highways Nitin Gadkari, Railway Minister Suresh Prabhu and Andhra Pradesh Chief Minister N Chandrababu Naidu. They will address the convention on July 18.

"There will be opportunities for the Indian ministers to discuss financing with the international institutions as well as private investors looking to invest in South Asia, particularly India," said Gopinath Pillai, chairman of the Institute of South Asian Studies and organiser of SADC.

Top representatives from World Bank, International Finance Corp (IFC), ADB (Asian Development Bank), Asian Infrastructure Investment Bank (AIIB), Industrial and Commercial Bank of China (ICBC China) and Infrastructure Development Finance Company (IDFC) will participate at the summit. He also said Naidu may discuss investment opportunities in Amaravati, the new capital for Andhra Pradesh, with global investors at SADC.

Singapore Prime Minister Lee Hsien Loong and Sri Lanka Prime Minister R S Wickremesinghe will be Guests of Honour at the SADC, said Pillai. A book, ‘Who Moved My Interest Rates’, by former Reserve Bank of India governor, Dr Duvvuri Subbarao, will be launched at the SADC.