News: 'America biz coming to India'
(AP 14/09/2006) New Delhi - A large group of American businessmen are planning to visit India in November to look for opportunities to invest in the country, US Ambassador David Mulford told a gathering of Indian and American businessmen on Wednesday.
"We are in the planning stages of a US trade mission in November," Mulford said to the Indo-US Economic Summit in New Delhi.
"US business is looking to India and an impressive array of corporate leaders will be coming for that event," he said.
Up to 200 representatives of US businesses will take part in the mission, according to the US Commerce Department Web site. The group will participate in the Mumbai Business Summit, before heading off to cities of their choice.
Foreign investors are keen to play a part in India's economy that has been growing at some 8 percent a year.
Bilateral trade between the two countries in 2005 stood at US $26.8 billion (euro21.1 billion) and is growing at a rate of some 20 per cent annually.
However, Mulford cautioned the Indian government that delaying planned economic reforms could slow projected growth.
"It is important to bear in mind there are serious economic costs to any loss of momentum on the reform front," Mulford said.
Many of India's plans to privatise industries and open others to the foreign sector have been put on hold by pressure from the Left parties in the ruling coalition.
"We are in the planning stages of a US trade mission in November," Mulford said to the Indo-US Economic Summit in New Delhi.
"US business is looking to India and an impressive array of corporate leaders will be coming for that event," he said.
Up to 200 representatives of US businesses will take part in the mission, according to the US Commerce Department Web site. The group will participate in the Mumbai Business Summit, before heading off to cities of their choice.
Foreign investors are keen to play a part in India's economy that has been growing at some 8 percent a year.
Bilateral trade between the two countries in 2005 stood at US $26.8 billion (euro21.1 billion) and is growing at a rate of some 20 per cent annually.
However, Mulford cautioned the Indian government that delaying planned economic reforms could slow projected growth.
"It is important to bear in mind there are serious economic costs to any loss of momentum on the reform front," Mulford said.
Many of India's plans to privatise industries and open others to the foreign sector have been put on hold by pressure from the Left parties in the ruling coalition.
posted by InCar Group Press Room at 11:38
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