Arun Jaitley to visit Singapore, Hong Kong to woo investors

Finance Minister Arun Jaitley will embark on a 4-day visit to Singapore and Hong Kong on Thursday to address investor meets and participate in the Singapore Summit.

Jaitley will deliver the keynote address at the Singapore Summit on September 18, which will deliberate on tensions in global economics, implications of the sharp drop in energy prices, and the need for new business models in a Global-Asia business landscape that is changing rapidly.

Chief Economic Adviser Arvind Subramanian too will attend the Singapore Summit and will participate in a session on 'Striving for Growth amidst Global Uncertainty'.

Besides, Jaitley is scheduled to address global investors conference organised by Goldman Sachs in Singapore and Hong Kong, sources said.

During his two-day visit to Hong Kong on September 20-21, the Finance Minister will meet global investors and pitch for investment in various sectors, including infrastructure, manufacturing, and Smart Cities.

He will return on September 22.

India is considered as a bright spot amid the global slowdown. It is the fastest growing major economy in the world as China is facing a financial turmoil.

The best part is India's macroeconomic fundamentals remain strong. For the June quarter, GDP grew at 7% and wholesale price inflation plunged to a historic low of (-)4.95%.

Jaitley yesterday had assured global investors of the "fairest and predictable taxation regime".

He had said the government has tried to resolve the legacy issue by governmental decisions, legislation or even by accepting judicial mandate.

The government has tried to "put each one of these (taxation) issues to rest so that from the regime which had earned an adverse reputation... We can evolve into the fairest and predictable taxation regime in India," he had said.