New Delhi: India went hammer and tongs at positioning itself as the next big investment destination at the World Economic Forum which ended on Sunday.
India Inc, this past week, has been conspicuous by its absence from Indian shores. Over 115 delegates from Corporate India gathered at the World Economic Forum, WEF in Davos to hob-nob with the who's who of the global corporate world.
The agenda-sell India to the world. For this they are runing a massive advertising campaign- the 'India Everywhere' campaign, which is being led by Reliance Industries Chairman, Mukesh Ambani on behalf of CII.
Indicating the coming of age of India Inc on the world scene, Mukesh is also co-chair at the WEF, the third Indian in three decades to hold the post. India's sales pitch was well voiced by ICICI Chief, KV Kamath.
"We are beyond the inflection point where growth momentum has started and global industry recognises this momentum. When this momentum starts, it lasts 15-20 years. Here it's been only three years. They all want to come and jump on the train," MD and CEO at ICICI Bank, KV Kamath said.
Giving the team more punch are; Finance Minister P Chidambaram, Planning Commission Head- Montek Singh Ahluwahlia and Commerce Minister, Kamal Nath. Using both sombre discusion forums and cocktail parties to mingle with domestic and international delegates, the political dream team is spreading the news of India's arrival on the international map. The sales pitch here is quaintly customised.
"We are not hiding India's deficiencies. We are inviting them to India to help us remove these deficiencies, to be a part of the process of building India. My message is, come build infrastructure. The deficiency of India is the opportunity for the investors," Chidambaram said.
Most global CEOs admit that India has arrived. Much as they want to be part of this growth story, the familiar issues of weak infrastructure and strong red tape continue to rankle.
"It is crucial that we get the legal, regulatory and physical infrastructure in place in India to sustain what's going on," Andy Green of BT Global said.
One unanimous verdict that is being echoed is the fact that India is definitely a hot destination in the current scenario. The place, various industries from banking to construction to IT, are impatient to get to.
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