US still a prime source of investment, says Pranab

Nov 09, 2010 |

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New Delhi, Nov. 8: The finance minister, Mr Pranab Mukherjee, on Monday said the US remains a prime source of investment and an important trading partner for India.

“Economic policy, finance and trade constitute important planks of our bilateral relations. For us, the US remains a prime source of investment, technology and an important trading partner,” Mr Mukherjee said while addressing a Indo-US CEOs forum meeting in the capital.

The meeting has been organised against the backdrop of the visit of the US President, Mr Barack Obama.

“As we make efforts to increase investment in infrastructure, and give a fresh impetus to the manufacturing sector, the importance of our partnership with the US will increase,” he said.

Meanwhile, the commerce and industry minister, Mr Anand Sharma, said that India and the US are considering setting up a $10 billion infrastructure debt fund under the public-private-partnership mode to expedite investments in the infrastructure sector.

The debt fund has been mooted by the India-US CEOs Forum that comprises 12 corporate leaders from each side and it could help India get resources to finance its $514 billion infrastructure investment plans. “The governments have yet to take a call. In principle the governments will be supportive of this,” Mr Sharma added.

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