It has been learned that the members of US-India Business Council (USIBC) have already invested $28 billion in India since September 2014. What is even more interesting is that another $45 billion is in the pipeline, this was told by Council Chairman John Chambers Prime Minister Narendra Modi at Washington.
“In September 2014, USIBC members indicated an investment figure of $41 billion that was likely to be invested over a 2-3 year period. Today I’m happy to announce that in less than two years, about 20 per cent of USIBC members have already invested $28 billion,” Chambers said.
“In next 2-3 years, we will see this pace accelerating, again with 20 per cent of our members indicating that USIBC members are on track to invest an additional $45 billion, which is a conservative estimate,” he added.
Prime Minister Modi is in the US and he is meeting top brass of companies like PepsiCo, Master Card, Warburg Pincus, Lockheeed Martin, Boeing, Westinghouse, Intelsat, Emerson and 8Minute Energy.
India has been urging global companies to come and invest in India as the government tries to lures investors by making policies and taxes more flexible.
By Atanu Kumar Das