Nath 'FDI global personality'of the year: FT

New Delhi, July 20: Commerce and Industry Minister Kamal Nath has been named ''FDI Personality of the Year 2007'' by FDI magazine and Financial Times Business, published by the Financial Times Group in London.

Mr Nath is the worldwide winner for his role in attracting Foreign Direct Investments into the country.

''This award is in recognition of your active efforts to attract foreign businesses to India, boost exports, and promote trade and investment,'' says the citation by the premier publication which reports on the issues and developments that corporate executives consider while making international investment decisions.

This has resulted in a substantial increase in FDI inflows to India and a rise in export volumes last year, contributing to the continued economic development of the country and adding to its attractiveness as an investment location, it added.

The others who have been named a Personality of the Year, are Mexican President Vincente Fox (2003), Brazilian President Luis Inacio Lula da Silva (2004), Mayor of Seoul Lee Myung-bak (2005) and Premier of Ontario Dalton McGuinty (2006).

Reacting to this honour, Mr Nath stated that India's exports have almost doubled from Rs 2,93,367 crore in 2003-04 to Rs 5,63,800 crore during 2006-07. India's exports grew at an average annual growth rate of about 25 per cent during the past three years.

The FDI equity inflows during the year 2003-04 stood at Rs 10,237 crore and have risen to Rs 70,630 crore during the year 2006-07, amounting to a cumulative growth of 700 per cent. The percentage growth during 2004-05 was 44 per cent over the previous year. During 2005-06 it grew by 72.29 per cent while in 2006-07, the percentage growth is 183.56, Mr Nath added.

UNI