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Indian industry plans $10 Bn investment in Afghanistan

Spending slating to develop mining industry and a steel plant
Afghanistan india pakistan 2011 5 13Enlarge
India's Prime Minister Manmohan Singh speaks at a session of the Afghan parliament in Kabul on May 13, 2011 as Afghan President Hamid Karzai watches. (Ahmad Masood/AFP/Getty Images)

Indian companies will invest more than $10 billion developing mines and building a steel plant in Afghanistan, India's Daily News & Analysis (DNA) newspaper reported.

External Affairs Minister SM Krishna unveiled the plans at a global conference where representatives of over 100 countries are meeting to chart the course for Afghanistan after US-led NATO troops pull out in 2014, the paper said.

India argued that a latter day Marshall Plan is needed to rebuild Afghanistan.  The war-ravaged nation needs help establishing internal security and effective governance deficit, as well as attracting investment for economic development, India said.

http://www.globalpost.com/dispatches/globalpost-blogs/the-rice-bowl/indian-industry-plans-10-bn-investment-afghanistan