Kolkata, June 29 (IANS) Foreign direct investment (FDI) in US from India is likely to maintain its current CAGR of nearly 30 percent and a marginal growth rate in the near future, a US official said on Monday.
“FDI into US from India is likely to maintain its current standards in the near future,” Paul Frost, an official of the US Commercial Service, told media persons here.
According to data from the US department, Indian FDI into US calculated in terms of Ultimate Beneficial Owner stood at $11,040 million during 2013 as against $10,766 million in the previous year.
Frost said the CAGR of FDI inflows into his country from India was registered at 29.34 percent during 2009-13.
“Major segments of FDI from India to US we are looking at are aerospace, textiles, IT and the BPO space among others,” he said.
The official said over the past few years, there had been considerable acquisitions of US-based companies by Indian firms which will continue. “The major concerns for Indian companies to operate business in US are financing and legal questions which we are trying our best to address,” he said.
THE US Commercial Service has planned a series of road-shows in India during October this year in Delhi, Mumbai and Chennai to attract Indian firms and investors. During the same month, it will also organise an airshow in Los Angeles in USA to attract FDI.
Frost said India is the fourth-largest foreign direct investor in US following China, Hungary and Luxembourg. According to data from the commercial service department, Indian firms, as on March 2015, employ around 44,000 US workers and their exports out of US account for more than $2 billion.
A fact-sheet released by US authorities said between January 2003 and October 2014, 362 investment projects were announced by Indian firms in US with software and IT services accounting for one-third of these.