Make yourself more attractive for FDI, U.S. tells India

By agencies   |   Tuesday, 23 August 2005, 07:00 Hrs
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NEW DELHI: The United States today urged India to remove policy hurdles to improve its image as a favored foreign direct investment destination and focus on development of infrastructure and agriculture.

"It is very much a question of India's image, attractiveness created by the government and feasibility for investment coming into the country," U.S. Ambassador to India David Mulford said at an Amcham conference on FDI.

Recalling the setting up of the Indo-U.S. CEOs' forum recently, the envoy said the forum would focus on strategic issues and identify specific areas and ways to expand and deepen bilateral trade ties.

Assuring all possible help in the energy sector, the Ambassador said: "If energy is a major constraint in the development of the country, you cannot fail to help them in that issue. Resolutions of energy problems are absolutely vital. India and the U.S. are both countries with energy problems...we have enormous areas with common interests and the relationship between the two countries should be formalized into a working relationship".

Identifying energy, infrastructure and agriculture as the key areas which acted as major impediment in India achieving high level growth, Mulford said though U.S. was ready to extend assistance in the agriculture sector, particularly in commercial aspects, "it is a sector ridden with complex policies and was not give priority in the last 15 years which is why it has not moved as quickly as it should have."

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