India seeks more US FDI from mid-west region

Washington: Seeking to attract more FDI from the US, India has reached out to the businesses in America's mid-west region citing investment opportunities in states like Punjab, Madhya Pradesh, Andhra Pradesh and Telangana.

It is the right time for the American businesses to come and invest in India and be part of the success story the world's fastest growing emerging economy, the Indian Consul General in Chicago Neeta Bhushan told a large group of corporate sector representative from the mid-west region.

The Indian Consulate in Chicago last week organised a meeting with mid-west business leaders pitching for business opportunities in Punjab, Madhya Pradesh, Andhra Pradesh and Telangana.

Delivering her keynote address on "India's new initiatives, Budget 2018, Business opportunity in Indian States, Upcoming Business & Cultural Initiatives," Bhushan highlighted major aspects of Indian economy, key initiatives undertaken by the Government during the recent Budget 2018-19 and economic initiatives taken by the Government.

In the last three years, India has achieved a growth rate of around seven per cent and it is estimated that India will continue to grow at around 7.5 per cent, she said. India is a USD 2.5 trillion economy now, making it the seventh largest economy in the world, she said.

Speaking on business environment for Entrepreneurs in India, Bala Palamdai, president, TiE Midwest mentioned that India's new economic initiatives and tax reforms have made a huge change and the process had become much simpler leading to more digitisation and the economy had become more attractive for business and investments. TiE is a non-profit association dedicated to fostering entrepreneurship in the Bay Area.