Kamal Nath chosen as the FDI Personality of the Year 2007

New Delhi, Aug 30 (UNI) Leading one of the fastest growing economies of the world, Commerce and Industry Minister Kamal Nath has been chosen as the FDI Personality of the Year 2007.

An annual award presented by Financial Times group publication, FDI, the magazine has chosen Mr Nath for spearheading the country's economic growth, which stood at 9.2 per cent last year.

In review of the FDI rules last year, his ministry streamlined the process of investment, doing away with multiple approvals required from the government and regulatory agencies, said the magazine in its August-September issue.

New sectors, even politically sensitive ones such as real estate and retail trade, which had in the past remained firmly shut to foreign investors, are being aggressively opened up, it added.

Investments are starting to flow into the country's infrastructure sector to build new airports, ports, roads, highways, telecommunications and power networks, an important milestone in the country's growth.

''For his tireless efforts in putting India on the global FDI map, Mr Nath emerged our clear choice for the FDI Personality of the Year 2007,'' said FDI editor Courtney Fingar.

This recognition is a tribute to India's business sector, which has worked towards India's substancial engagement with the global economy, she added.

UNI