“INDIA: OPPORTUNITIES UNLIMITED”
GLOBAL ORGANIZATION OF PEOPLE OF INDIAN ORIGIN (GOPIO) BELGIUM
IN ASSOCIATION WITH THE EMBASSY OF INDIA, BRUSSELS (BELGIUM)
4 December 2003
5, Boulevard du Roi Albert II
B - 1210 Bruxelles
Tel: 0032-2-224 0254
Fax: 0032-2-224 0299
What is GOPIO?
The Global Organization of People of Indian Origin (GOPIO) (http://www.GOPIO.net) is the international network of people of Indian origin (PIO) with its headquarters’ in the United States. It is a vibrant non-profit organization in the service of Non Resident Indians (NRIs) and Persons of Indian Origin (PIOs) around the world. GOPIO has set its priorities in pooling resources, both financial and professional, for the benefit of PIOs, the countries they come from and India.
The GOPIO Belgium is a non-profit, non-partisan, non-sectarian National Chapter of the GOPIO International which is engaged in promoting well being of non-resident Indians and people of Indian origin living in Belgium. The GOPIO Belgium Chapter which was founded on 2nd. October 2002 is working in cooperation with GOPIO International and is liaising between Indians and people of Indian origin in Belgium, the Belgium Government, Government of India, countries with people of Indian origin and relevant international organizations in realization of its objectives.
One of the objectives of GOPIO Belgium is to help promote economic development in India through investment and entrepreneurship. GOPIO is extremely optimistic about India becoming one of the ECONOMIC SUPER POWERS by the year 2020. That spells enormous Investment Opportunities both nationally and globally, which in turn will provide a return on investment amongst the most attractive in the world.
Keeping in mind the economic challenges India faces and how best the GOPIO Belgium can become a component to promote entrepreneurship, it has decided to organize a one-day Seminar on "Investment In India: Opportunities Unlimited” which emphasises the sectors of high growth in India's economy and will facilitate interactions between selected potential interested investors and Indian corporate sector representatives. The Conference will be held in Brussels on 4 December 2003 at:
5, Boulevard du Roi Albert II
B 1210 Bruxelles
Tel : 0032-2-224 0254
Fax : 0032-2-224 0299
The salient features of the Seminar are:
Sharing with participants the recent developments in India’s economic policies and in particular its investment policy;
The ongoing privatisation programme;
Rising opportunities by industry associations;
New areas of thrust in the economy;
India’s specific-product-market strengths; and
India’s growing influence in world trading system.
There seems considerable eagerness on the part of micro-chip industries, IT software as well as in the Financial and Insurance sector to invest in India. What holds them back is inadequate information about the country’s economy and industrial scene. This Seminar was therefore intended to give the investors the information, assurance and confidence provided by knowledgeable persons. Investing in India is not something which is new but what is new is the fact that India has the potentials to become the safest and most attractive destination for foreign investors. India’s vibrant democracy, secularism and its cultural heritage are adding to its potential for attracting foreign investment.
At a time when international tensions are high, the offshore movement continues unabated. India is the top rated economy in the categories of cost and people. It boasts the most highly skilled, lowest cost labour force. This is a powerful combination, particularly when its experience in offshore business processing is factored into the mix.
India is a vibrant parliamentary democracy and has been one since its political independence more than 55 years ago. Sovereign Risk in India is zero for both "foreign direct investment" and "foreign portfolio investment." The Government is on course to solve problems in Kashmir and in the extreme north-eastern parts of the country.
Political Risk and Economic Liberalisation
India has not suffered
political instability. The government is on course to economic liberalization
programmes and during last three years alone the government has pushed its
economic reform process to a new high.
Economic liberalisation has been accepted as a necessity by all political parties. Thus, political instability in India, in practical terms, posed no risk to foreign direct investors because no policy framed by a past government has been reversed by any successive government so far.
India’s Investment Policies
India's economic policies are designed to attract significant capital inflows into India on a sustained basics and to encourage technology calibration agreements between Indian and foreign firms. Policy initiatives taken over the last few years have resulted in significant inflows of foreign investment in all areas of the economy. Several public sectors have been privatized are several more are in the list.
Today, India is one of the most exciting emerging markets in the world. Its GDP is all set to cross 7.5 per cent this fiscal year. Many Skilled managerial and technical manpower that match the best available in the world and a middle class whose size exceeds the population of the USA or the European Union, provide India with a distinct cutting edge in global competition.
Foreign Investment through GDRs (Euro Issues)
Foreign Investment through
GDRs is treated as Foreign Direct Investment. Indian companies are allowed to
raise equity capital in the international market through the issue of Global
Depository Receipt (GDRs). GDRs are designated in dollars and are not subject to
any ceilings on investment. An applicant company seeking Government's approval
in this regard should have consistent track record for good performance
(financial or otherwise) for a minimum period of 3 years. This condition would
be relaxed for infrastructure projects such as power generation,
telecommunication, petroleum exploration and refining, ports, airports and
Clearance from FIPB
There is no restriction on the number of Euro-issue to be floated by a company or a group of companies in the financial year. A company engaged in the manufacture of items covered under the New Industrial Policy whose direct foreign investment after a proposed Euro issue is likely to exceed 51% or which is
implementing a project not contained in NIP, would need to obtain prior Foreign Investment Promotion Board’s clearance before seeking final approval from Ministry of Finance.
However, investment in stock markets at present is not being permitted. Companies may retain the proceeds abroad or may remit funds into India in anticipation of the use of funds for approved end uses. Any investment from a foreign firm into India requires the prior approval of the Government of India.
The GOPIO has invited the Government of India to send its representative to inaugurate the Seminar. GOPIO expects senior representatives from corporate world including private entrepreneurs to attend it. The Seminar will be open for GOPIO members to participate and exchange views.
Global Organization of People of Indian Origin (GOPIO) Belgium
Boulevard Louis Mettewie 69, bte. 18
Tel. & Fax: +32-2-469 2677
President : Sunil Prasad Secretary : Shashank Sapre
+32-2-469 2677 & 2-224 0327
(+32 14) 70
30 30 & 70 32 32
Fax: +32-2-469 2677 Fax: (+32 14) 70 34 34
GSM: +32.496. 36 01 00
E-mail: firstname.lastname@example.org E-mail: email@example.com