Indo-US ties swing upward |
Economic ties between India and the US are on an upward swing and American investment in the country has seen a more than three-fold jump in 2015-16, US ambassador to India Richard R Verma said recently while noting that a "stable tax regime and legal certainty" were key for growth in this area.In Patna, to make a tour of "fast-progressing Bihar", Verma underlined the utility of the single-window clearance system for attracting investment and hailed the southern states for having implemented such processes.Lauding Bihar for the turnaround it has achieved in recent years, he said, we hear about positive success story of Bihar in last few years. Verma pointed to the American multinational General Electric company manufacturing locomotives in Marauhra and Madhepura in Bihar at an investment of 2.5 billion dollar. The US company is to make 900 locomotives in Bihar, he said.The US ambassador said that economic ties between his country and India would increase in the future. He added that American companies have two prime concerns before making any investment -- "they look for stable tax regime and legal certainty for their investment". US investment in India increased to $105 billion in 2015-16 as compared to $30 billion 10 years back," he added. About 200 US companies were present in India in 2005, which has increased to 500 in 2015-16.
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