India may attract up to $27billion in investment from the US

Investment of S27 billion expected from US

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]U[/dropcap]S-India Business Council president Mukesh Aghi on Wednesday said that we are expecting $27 billion (Rs.1.85 Trillion) of investment in India from more than 50 American companies by 2017 as against $15 billion invested since May 2014.

He also quoted a council survey that since PM Narendra Modi has assumed office, we are expecting an investment of $27 billion from 52 US firms in India this year and next year, in addition to $15 billion by 20% of our member firm.

Under Modi’s leadership it is noted that the reforms are being resonating well with US firms and he also thanked the country’s ascend in the easiness of doing business manifestation.

“Our members are buoyed by the direction of reforms, including fast-tracking approvals, transparent auction of natural resources and facilitating a level-playing field for investors,” he said.

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]R[/dropcap]eorganizing its policy groups to address Modi’s priorities, focusing on manufacturing ties, the council told the prime minister at a meeting with him that a robust IP (intellectual property) policy was essential to boost investor confidence.

“We also stressed on greater clarity on certain FDI regulations and implementation of the Goods and Services Tax (GST),” Aghi added.

A delegation led by council chairman and global networking major Cisco head John Chambers met Modi and key ministers to explore new opportunities for the India-US relationship.

Council’s ex-chairman, MasterCard chief executive Ajay Banga, vice-chairman Ed Monser and Aghi were also present.

“Both countries have a huge opportunity to scale bilateral trade exponentially in the coming years. The council has built a strong foundation in engaging US business in India to take the relationship to the next level,” Chambers said later.

Asserting that Indo-US ties and India’s business climate were getting stronger, Banga said the opportunity for the council to act as a catalyst for greater investment in India was greater than ever before.

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]F[/dropcap]ormed in 1975 at the behest of both the governments, the council is the premier business advocacy organization, comprising 350 top-tier US and Indian firms advancing Indo-US commercial ties.

The council is also the largest bilateral trade association in the US, and has offices in New York, Silicon Valley and New Delhi.

Here is an excellent post on Government relaxing the FDI Norms.

Notes:
1. IANS