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Commonwealth Games is a coming of age ceremony for India: Expert | The XIXth Commonwealth Games being held in New Delhi
from October 3 to 14 should be seen as a coming of age ceremony for India, a participant at the Seventh Annual India Investment Forum being held here has said.
Harvey Shapiro, a senior adviser to Institutional Investor, said the Games could
be a "coming of age ceremony" for India. Shapiro felt that initially wary foreign
investors were now more comfortable. "Maybe the Commonwealth Games could be like
a dress rehearsal for bigger, more ambitious events," he said. Other participants
have said that India's ability to pull off ambitious events like the Commonwealth
Games has made foreign investors less anxious. "The final verdict about the opening
ceremony seems to have been good, after all the anxiety leading up to the event,"
the Wall Street Journal quoted Ajit Ranade, chief economist at the Aditya Birla
Group, as saying. "The hue and cry from the people and media seems to have played
a big part. It could have been a different situation otherwise," he added. "India
doesn't host events like this very often, but Korea, South Africa and Brazil,
have taken the leap and India too could get there," " said Shapiro, who is part
of the organizing committee of the India Investment Forum. According to Srinath
Geedipalli, a director at New York-based Simanor, investors are often frustrated
by the absence in the lines of communications between heterogeneous departments.
"Things eventually come together in the last minute but the anxiety is always
there," said Geedapalli, 35, whose firm provides mergers and acquisitions and
other advisory services for companies in the U.S. and India.
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