Finance Minister P Chidambaram has said that the government will set up independent regulators for coal and road sectors in four months and vowed to bring down fiscal deficit.
Beginning his campaign in North America for wooing foreign investments, the Finance Minister said India sees no difficulty in concluding a free trade pact with Canada.
Addressing the Canada India Business Council meeting in Toronto, Mr Chidambaram said there will be a road regulatory authority and a coal regulatory authority within two to four months.
The visiting Indian minister said the regulatory authorities would become effective mechanisms to address problems being faced in implementation of road and coal projects.
The meeting was attended by over 100 CEOs of top North American companies.Referring to the fiscal position of the Indian
government, Chidambaram said that the government was committed to bringing down the fiscal deficit.Projecting India as an attractive investment destination with a stable fiscal regime, he invited Canadian investments in sectors like infrastructure and food processing.
The Finance Minister said India wants both foreign direct investment as well as FII inflows.