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Patil asks foreign firms to tap Indian investment potential

Patil asks foreign firms to tap Indian investment potential
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First Published: Thu, Oct 06 2011. 06 42 PM IST

Austrian President Heinz Fischer and India’s President Pratibha Devisingh Patil, from left, review the honor guard during during a welcome ceremony in Vienna, Austria. Photo: AP
Austrian President Heinz Fischer and India’s President Pratibha Devisingh Patil, from left, review the honor guard during during a welcome ceremony in Vienna, Austria. Photo: AP
Updated: Thu, Oct 06 2011. 06 42 PM IST
Vienna: Noting that India needs huge investments to the tune of one trillion dollars in the coming years to ramp up its infrastructure, President Pratibha Patil on Thursday invited foreign companies to use the investment potential.
“India has been focused on improving its infrastructure, and investments of close to one trillion dollars would be required in the coming years, to implement these plans.
Austrian President Heinz Fischer and India’s President Pratibha Devisingh Patil, from left, review the honor guard during during a welcome ceremony in Vienna, Austria. Photo: AP
“This provides an excellent investment opportunity for foreign companies. Power, roads, railways, airports and ports are all India’s overarching priorities,” Patil said addressing the India-Austria Business Forum Meet here.
Patil, who is on a state visit to the country, said she has witnessed first-hand in Vienna, the excellent facilities established in urban areas which set an example for the rest of the world.
“Austrian strengths in infrastructure, automotive and environment friendly technologies provide a good option to the requirements of the Indian economy,” she said.
She said India and the EU are strategic partners and augmenting economic ties with Austria will further strengthen India’s overall partnership with the EU.
“Our (with Austria) strong ties in the economic sphere will strengthen not just bilateral relations but our overall partnership with the EU,” Patil said.
The President also met federal chancellor of Austria, Werner Faymann, and also visited the Austrian Parliament and met President of the National Council, Barbara Prammer.
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First Published: Thu, Oct 06 2011. 06 42 PM IST