Modi Inspires Investor Confidence In U.S. Visit, $42 Bn Committed

NEW DELHI: Prime Minister Narendra Modi`s "extremely successful" U.S. visit, especially his meeting with top business leaders there, has seen a U.S.-India business body committing to $42 billion investment in India with many lauding the "Gujarat model" of development.

In a survey following Modi`s five-day visit, the U.S.-India Business Council (USIBC), in a survey, found that $42 billion was willing to be committed over the next two-three years for investment by just 20 percent of the members surveyed, said government sources Saturday.

If the rest of the USIBC members and the top US businesses had been surveyed, the figure would have exceeded $100 billion, the official added.

There was a "very positive" investor sentiment among the businesspersons in the U.S. "based on the experience in Gujarat", said the source.

What added to the investor confidence was Prime Minister Modi being very conversant with the "nuts and bolts" of business during his interactions with the top CEOs of global firms like Google, Boeing, Black Rock and Pepsico.
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