Magazine : 
Modi Co-Opts U.S. Business In Remaking India
That India is back on the agenda for investors can also be gauged from the words of other corporate head honchos. "I deeply believe that he's committed to changing India," said Caterpillar's Douglas Oberhelman after meeting Modi. Boeing CEO James McNerney said the company would accelerate its engagement with India. "We've got folks who are firming up travel plans," gushed Assistant Secretary of State for South Asian Affairs Nisha Desai Biswal during a media briefing.
Foreign direct investment from the US has fallen in the last four years as India's economic growth slowed and investors were disappointed by the previous government's failure to make key policy changes. Many U.S. companies now expect there will be a better business climate in India as Modi has promised to "implement and enforce all parameters of ease of business". They see long-term opportunities in sectors like infrastructure, defence and aerospace.
Modi understands that global capital is critical to remaking the Indian economy, especially in developing its infrastructure and transportation network. He has his sights on export-oriented manufacturing FDI, says political scientist Sonal Pandya of the University of Virginia, that creates skilled jobs and introduces advanced technologies without intensifying local competition, given the sharp political division in India over FDI in sectors like multi-brand retail.
