In order to meet the set bilateral target to $500 billion in the next few years from the present $100 billion, United States wants more investment from India. US Consulate General Tom Vajda at the 'Select USA' roadshow in Mumbai said that he see lot of potential in bilateral trade and investment between the two countries and wants more Indian firms to invest and help US to grow the economy.
Few years back US President Barack Obama launched the 'SelectUSA' to promote business investment into the US. The executive director of the Select USA, Vinai Thummalapally in the roadshow has said that the US provides large investment opportunities for Indian companies in various sectors such as software, IT services, gas exploration, pharmaceuticals, biotechnology, industrial machinery and business services. At present there are 200 Indian firms operating in US from an estimated 85 in 2005. He further added that 'India is the fourth fastest growing source of investment in the US, with investment of $11 billion last year. Indian firms employ around 44,000 American workers, and they export more than $2 billion worth of goods from the US.
The US' first-ever October 13-16 India roadshow that began in Delhi will travel to Chennai on October 15 and reach Kolkata on October 16.The roadshow offer the US State and Regional Economic Development Organisations the opportunity to market their locations directly to potential investors. With a view to promote business investment into the US and to showcase the US as the world's premier business location and to provide easy access to programmes and services related to business investment. Investors will be offered insights about unique incentives of each area and key contacts to guide their investment decisions.