Obama cheer-leads for US investments into India

The US is upbeat about prospects of doing more business with India. India figures among the top priority investment destinations for US investments abroad, a US official said. “In terms of the US-India partnership, ..the president is very enthusiastic about the prospect of increased collaboration, increased economic growth for American companies, and investments in India,” said press secretary Eric Schultz.

The US’ enthusiasm about pouring more money into India, Asia’s third largest economy, should bring a lot of cheer to India’s Prime Minister Narendra Modi who has actively rooted for more US investments to shore up the Indian economy and bolster the country’s infrastructure. During Mr Modi’s visit to the US in September 2014, US corporates had pledged around $39 billion investment in India. Nearly 10 months later, this enthusiasm has not translated into investment. But one hopes that the latest signal coming from the Obama administration will prod US companies to fast-track their India investment plans.

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