Foreign direct investment (FDI) from the US to India has crossed the $ 40 billion mark so far this year, reflecting the growing confidence of US companies in the country, the chief of a business advocacy group focused on India.
US companies, during the COVID-19 pandemic, which has hit the world economy, have shown great confidence in and leadership in India, said Mukesh Aghi, president of the United States-India Strategic and Partnership Forum (USISPF), which keeps track of major US FDI in India.
To date, US investment, including recent ones, exceeds $ 40 billion, Aghi said.
In the past few weeks alone, the FDI announcement in India has topped $ 20 billion, he said, referring to announcements made by some of the top companies like Google, Facebook and Walmart.
Investor confidence in India is high. India remains a very promising market for global investors. If you look at $ 20 billion, not just in the US, but (the investment) also comes from other geographies, like the Middle East and the Far East.
So India remains a very optimistic market for the investment community, Aghi said in response to a question.
The USISPF has been working with New Delhi to attract FDI to India, playing a key role in encouraging American companies planning to relocate their bases outside of China, he said, adding that the move was taking place in the last three years of the Trump administration. , but gained momentum during the coronavirus pandemic.
We believe that the intention of the Prime Minister (Narendra Modi) is very high. The challenges are on the execution side. Efforts are being made to encourage manufacturing. I've never seen it so good. The political framework is moving in the right direction, he said.
From News 18
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