Karzai asks India Inc not to shy away from Afghanistan, cites earlybird China

Afghanistan President Hamid Karzai today told India Inc not to be "shy" when it comes to investing in his mineral-rich country and pointed out to them of the gains reaped by the Chinese who invested early in the war-ravaged country.

"Indian businesses need not be shy when thinking of Afghanistan. Chinese businesses were there long before you came, five or six years ago. And they have now taken two or three major contracts," he said, addressing the captains of the industry here.

Karzai said his administration will do all things possible and accord special treatment to Indian investors.

"We would like to give you a better platform. We would like to welcome you on a red carpet and others on a grey carpet. But you need to arrive on the red carpet. If you don't arrive on the red carpet, it will get dusty. Therefore, do hurry up in coming and take advantage of the opportunities in Afghanistan," Karzai told the industry leaders.

He, however, reminded them that there is strong competition in his country.

"Competition is strong. You have now competition from the West arriving in Afghanistan," said Karzai, who has been the head of government since 2001 following the US intervention and the ouster of the Taliban.

Karzai, on a four-day visit to the country, arrived here yesterday. On the second leg of his visit he will be in New Delhi where he is expected to ink four pacts in the field of mining, youth affairs, small development projects and fertiliser.

The meeting was organized under the aegis of CII, Ficci and Assocham and the participants included Adi Godrej of CII, Ficci's R V Kanoria, Yes Bank managing director Rana Kapur among others.

China has been among the first to invest in Afghanistan and experts appreciate it as a good move given the geo-political importance of Afghanistan as a bridge between South and Central Asia.

... contd.

ALSO READ

Govt aims to bring down CAD to 2.5% by 12th Plan-end, says Montek

Raghuram Rajan not in favour of sovereign bond to finance CAD

Hospitality sector attracts $3.2 bn FDI in Apr-Feb FY13

India for enhancing financial resources of ADB