Government wary of the EU crisis and its impact on the country is likely to get some solace with a top official at US embassy stating that India is one of the fastest growing FDI sources for the United States with investors from the country more interested in US' aerospace and textile sectors, among others. He added, “The number is growing and we expect this number to keep growing. Indian companies have also been making large acquisitions in the recent past.”
Paul Frost, commercial attaché at US Embassy said that India is the fourth fastest growing source of FDI into the United States and the total stock of FDI from India to the United States is $11 billion with Indian firms employing around 44,000 American workers and exporting more than $ 2 billion worth of goods from America.
He said sectors like aerospace, textiles, IT and life sciences have been of interest to Indian investors. From October 26, US will organise a national aerospace FDI exposition in Los Angeles for the first time to attract investment from foreign countries in the sector. He added that this exposition would be of interest to those also in the supply chain like those who manufacture seats for aeroplanes. Further, under the Select USA program to promote investment in the United States, the country will organise roadshows in Delhi, Mumbai and Chennai in October.