“Our bilateral trade today has reached 100 billion dollars and maintains an upward trajectory. Indeed, despite global economic slowdown, US exports in goods and services to India which is nearing $50 billion, have grown by an impressive 12 percent in the first half of 2013,” Sandhu said. Noting that US is an important source for foreign direct investment in India, he said for the US, India is now, among the fastest growing sources of inward investment. More than 65 large Indian corporations, including Tata, Reliance, ESSAR, Piramal and others, have invested about $17 billion across a number of US states, including Colorado, Oklahoma, Georgia, Idaho, Tennessee and Kansas over the last five years, he said.

 Taking note of the concerns expressed in US about the pace of reform in India and it’s investment climate, Sandhu said New Delhi is sensitive to these views. “Government of India has focused, on improvement of our investment regulations, leading to significant FDI liberalisation, in the past year, in a number of sectors, of US interest? Including, multi-brand and single-brand retail, civil aviation, telecommunications and defence,” he observed. “In addition, clearances for pending projects, have been fast-tracked, taxation issues have been addressed upfront and clarified, and the much talked about Preferential Market Access guidelines for private sector companies have been kept in abeyance,” Sandhu said.
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