The fDi magazine, and Financial Times Business have conferred the prestigious fDi Personality of the Year 2007” award on India’s Union Commerce Minister, Kamal Nath for being instrumental in bringing large foreign investments to India.

The award recognises leaders from the political and business world who have displayed dynamism and energy in soliciting foreign investment and improving the investment climate of their country.

A continent/region-wise selection is made first, and a global winner is chosen from the regional winners Kamal Nath is Asia’s and the world’s choice for 2007, and the first such honour for an Indian minister.

The award will be conferred on 31st August, 2007 at a ceremony in Delhi, organized by JVD heldden, the Indian wing of the fDi and FT Business.

Kamal Nath as Union Commerce Minister has pursued an aggressive trade and investment policy which helped bolster exports resulting in a marked increase in FDI inflows. With swelling exports, India’s potential as an investment destination has been enhanced.

The award function would be graced by previous award winners from the US, Europe, the Middle East and Africa, and SEZ promoters, state government heads, senior executives from Indian industry, policy makers in the Commerce Ministry and ambassadors of foreign countries in India.

Foreign direct investment (FDI) in India touched USD 4.9 billion in the first quarter of 2007-08, an increase of 185% over the corresponding period last year.

India has one of the most liberal FDI policies in the world, and the government is in the process of streamlining it further to generate more employment.

The NCR has been the largest recipient of FDI between January to May 2007. Mumbai, Bangalore and Chennai have enjoyed two-thirds of the FDI pie.

Vodafone and Matsushita Electric of Japan have made the highest investments this year. The services, telecom, electrical equipment, real estate and transportation sectors have been the beneficiaries of the FDI to India in 2007.

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