Indo-US nuclear deal to benefit power sector: APCAC
The Indo-US civil nuclear deal would benefit the power sector in India and strengthen its relations with the US, says Asia Pacific Council APCAC.
By PTI |
JAIPUR: The Indo-US civil nuclear deal, which is facing political opposition, would benefit the power sector in India and strengthen its relations with the US, Asia Pacific Council of American Chamber of Commerce (APCAC) said on Thursday.
"I do not see any direct link of Indo-US deal with industrial sector or investment being made by both nations," APCAC Chairman Landis Hicks told a press conference. He was heading a meeting of the executive board directors of the council here.
"Whatever is its impact, it would be useful for both the countries," he said.
India would probably be the top investment destination in future, but right now it was judged third or second investment destination, Hicks said.
China was number one foreign investment country for the last 10 years, followed by Japan or India, he said.
American businessmen felt most comfortable in India despite a number of hurdles like lack of sufficient hotels, airports, airlines, and infrastructure in parts of the country, said Hicks, who is also the executive vice-president of Pacific Architects and Engineers.
US businessmen were making an annual trade in India to the tune of 23-24 billion dollars every year, he said.
On rupee appreciation, he commented that the depreciation of dollar was good for American businessmen.
"I do not see any direct link of Indo-US deal with industrial sector or investment being made by both nations," APCAC Chairman Landis Hicks told a press conference. He was heading a meeting of the executive board directors of the council here.
"Whatever is its impact, it would be useful for both the countries," he said.
India would probably be the top investment destination in future, but right now it was judged third or second investment destination, Hicks said.
China was number one foreign investment country for the last 10 years, followed by Japan or India, he said.
American businessmen felt most comfortable in India despite a number of hurdles like lack of sufficient hotels, airports, airlines, and infrastructure in parts of the country, said Hicks, who is also the executive vice-president of Pacific Architects and Engineers.
ADVERTISEMENT
US businessmen were making an annual trade in India to the tune of 23-24 billion dollars every year, he said.
On rupee appreciation, he commented that the depreciation of dollar was good for American businessmen.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
