India among fastest growing FDI sources for US
The India story continues to be strong. India is one of the fastest growing FDI (foreign direct investment) sources for the United States with investors from the country exhibiting interest in US aerospace and textile sectors, among others, a top official at US Embassy said. “India is the fastest growing source of FDI into the US. The total stock of FDI from India to the United States is $11 billion,” Paul Frost, commercial attaché at US Embassy said. Frost also highlighted how sectors such as aerospace, textiles, IT and life sciences have been generating interest among Indian investors. “The number is growing and we expect this number to keep growing. Indian companies have also been making large acquisitions in the past,” he added. Indian firms employ around 44,000 American workers and export more than $2 billion worth of goods from America, as per a statement issued. The statement further said that there would be a roll-out of roadshows in Delhi, Mumbai and Chennai in October as part of the SelectUSA program which promotes investment in the United States. From October 26, US will be organising a national aerospace FDI exposition in Los Angeles for the first time to attract investment from foreign countries in the sector. “There is a lot of interest in the space sector. This exposition would be of interest to those also in the supply chain like those who manufacture seats for aeroplanes,” the official said. Between January 2003 and October 2014, 362 investment projects were announced by Indian firms in USA. Incidentally, according to the United Nations Conference on Trade and Development (Unctad)’s World Investment Report 2015, India made it among the top 10 FDI destinations in 2014. India ranked ninth in the recent report, up from rank 15 in the year 2013. Among the top 10 recipients, China, Hong Kong and the US accounted for the biggest share (in that order). China led the line up with FDI of $129 billion in 2014. The US, which got $231 billion worth of FDI in 2013 dropped to $92 billion in 2014, while Hong Kong received $103 billion FDI in 2014.
June 30, 2015 | 5:08 pm IST.
to success.