U.S. Scouts For Investments From India

NEW DELHI: To address the imbalance of U.S. investments in India being two-and-half times more in worth than the reverse flow, the U.S. Department of Commerce Thursday announced it was making special efforts to encourage Indian businesses "set up shop in the U.S.".

The announcement was made here by Ambassador Vinai Thummalapally, executive director of SelectUSA, an arm of the US Department of Commerce whose brief is to attract and retain business investment in the U.S.

Thummalapally, originally from Andhra Pradesh and a former U.S. ambassador to Belize in central America, is embarking on a week-long tour of five Indian cities, including Bangalore, Hyderabad and Coimbatore, to attract investments from these place to the U.S.

As part of its work of bringing potential investors in touch with the U.S. economic development administration, a delegation from various American states is to come to India for the first time in the first half of 2015, Thumalapally told reporters here.

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