New Delhi Global energy giants BP, Exxon Mobil, Shell are thrashing out their plans with Indian companies and state government officials to pump dollars into 5 states - Orissa, Karnataka, Andhra Pradesh, West Bengal and Gujarat.
Exxon Mobil, Shell, BP and BASF touched down in the Capital to talk big numbers.
They were invited here by a group of NRI's, led by former Citigroup hand Victor Menezes and TCG group Chairman Purnendu Chatterjee.
his is a roundtable that's talking of at least USD30 billion coming into India as FDI and its focus is petrochemicals.
CEO's of global energy giants BP, Exxon Mobil, Shell are thrashing out their plans with Indian companies and state government officials to pump dollars into 5 states-- Orissa, Karnataka, Andhra Pradesh, West Bengal and Gujarat.
Each of these states will set up petrochem hubs that will house an oil refinery, a petrochemicals complex and other related downstream industries.
Chairman of the the Chatterjee Group Purnendu Chatterjee said, "Petrochemicals is huge, its the economy of scale, huge job opportunities. Each region can look at investments of up to USD10 billion."
The buck will not stop at petrochemicals. Next in line are special economic regions for light engineering, biotech, pharma, IT, which will cater to both exports and the domestic market.
Chairman and CEO of Symphony Tech Romesh Wadhwani said, " "the next phase , the next big plan"
Further, these global giants are open to setting up either JVs with Indian companies like Reliance or ONGC or coming in on their own. And for a change they are not asking for fiscal concessions like tax breaks, all they want is a single window clearance.
Former VC of Citigroup Victor Menezes said, "They want some policy level help from the government-labour issues and quick clearances."
With the Prime Minister appointing these group of NRIs as India's FDI ambassadors, one expects this time around talks will actually lead to dollars pouring in.
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