NRI Forms Joint Venture To Attract Indian Investment To U.S.

By siliconindia | Monday, 13 July 2015, 10:15 Hrs

NEW DELHI: A non-resident Indian (NRI) has formed a joint venture with an American investment firm to attract Indian investment to the United States and create job opportunities in areas such as New England and Baltimore. The overall objective of this joint venture appears to be the promotion of economic growth under the EB5 Investments Programme through Indian investors seeking U.S. citizenship for themselves and their families under the US government's investors' visa programme.

Satish Jha, the chairman of the diversified The Jha Group (TJG) announced on Sunday a partnership with the U.S.-based Ashcroft Sullivan Economic Development Centers (ASEDC) to bring investment and economic opportunities to India, under the EB-5 programs, stimulating job creation in the United States.

The new joint venture has been named as Ashcroft Sullivan Jha.

The joint venture aims to stimulate the U.S. economy through job creation and capital investment in industrial projects through Indian companies under which certain EB-5 visas are set aside for investors in regional centers designated by USCIS based on proposals for promoting economic growth.

"The principals of the new joint venture, Ashcroft Sullivan Jha, have set up offices in New Delhi and Goa and are planning to open offices in Kolkata, Hyderabad and Chandigarh to educate investors about Green Cards for immigrants from India through the EB-5 program," said Jha.

Source: PTI