India's value proposition offer woos foreign investment: Mashelkar

Bangalore, June 8 (UNI) India has become the centre of gravity in terms of foreign investment in various sectors, especially IT and BioTechnology, as it gave greater value proposition for every Dollar invested, Centre for Scientific and Industrial Research (CSIR) Director General Dr R A Mashelkar has said.

Delivering a special address at the CEO's conclave at the three-day Bangalore Bio-2006 here last evening, he said the prevailing vibrant democracy, culture of diversity and large chunk of young talents were the major factors which attracted global attention towards India.

Predicting that this new trend of India-centric investment would continue to be the country's strength for the next three to four decades registering an eight to nine per cent growth, Dr Mashelkar said the large internal market was another major factor which drove the Indian economy.

He said the visionary initiatives taken by the Union government about two decades ago were yielding results now in the BT and IT sectors. Every parent wished to send their children to access the knowledge of either IT or BT. BT started in this country not because of any private initiative, but the Government's efforts through funding, he recalled.

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