From Doldrums To The Rapids

 Next, the ministry set up the Foreign Investment Promotion Council (FIPC) under the chairmanship of N. Vaghul, chairman of ICICI, and respected private sector managers like Ashok Ganguly, former chairman of Hindustan Lever and director of Unilever, and Gurcharan Das, former managing director of Procter & Gamble India, as members. The council’s task is to analyse the requirement of various industry sectors in the country which are in need of modernisation, technology upgradation and capital requirements. FIPC is complemented by the formation of the Disinvestment Commission under the full-time chairmanship of G.V. Ramakrishna.