The United States looks to invest in Punjab and Haryana-based firms, especially in life science, textile and auto parts, to strengthen trade and economic ties between India and the States. “There is a strong life science component in Punjab area. So this is the one sector which we see a lot of growth opportunities and another is auto parts,” Embassy of USA, Commercial Officer, Paul Frost said. However, he said the US was also looking at other sectors including textile, IT services, pharmaceuticals from India to make investments in America.
The US Department of Commerce's Select USA Programme will hold its first ever India road show starting October 13 till 16 to be held in Delhi, Mumbai, Chennai and Kolkata. Officials of US Embassy will also hold meetings with local politicians of Punjab and Haryana and representatives of local industry associations as part of its programme to attract investments from India. Frost said a delegation from the US will also visit India to provide information to potential investors here to help them understand where the investment opportunities lie for them. “Delegation will also have subject matter experts to explain to Indian investors how they can be successful in the US. 14 economic development officers will also be here to answer questions of investors.”
The number of Indian companies operating in the US has increased from estimated 85 in 2005 to over 200 companies today. “We see in many cases Indian companies which invest in US use it as hub to expand operations to the entire western hemisphere,” said Frost. Each road show will feature a half-day seminar with sessions by America professionals on investment visas, legal and financial issues, investment incentives and successful investment strategies, followed by one on one consultations with a range of participating US states and localities, officials said.
