India among fastest growing FDI sources for USA

KOLKATA: India is one of the fastest growing FDI sources for the United States with investors from the country more interested in US' aerospace and textile sectors, among others, a top official at US embassy said today.

"India is the fourth fastest growing source of FDI into the United States. The total stock of FDI from India to the United States is USD 11 billion," Paul Frost, commercial attaché at US Embassy, told reporters here.

He added, "The number is growing and we expect this number to keep growing. Indian companies have also been making large acquisitions in the recent past."

He said, sectors like aerospace, textiles, IT and life sciences have been of interest to Indian investors.

Indian firms employ around 44,000 American workers and export more than USD 2 billion worth of goods from America, a statement issued here said.

Under the SelectUSA program to promote investment in the United States, the country will organise roadshows in Delhi, Mumbai and Chennai in October, the statement added.

From October 26, US will organise a national aerospace FDI exposition in Los Angeles for the first time to attract investment from foreign countries in the sector.

"There is a lot of interest in the space sector. This exposition would be of interest to those also in the supply chain like those who manufacture seats for aeroplanes," the official said.

Between January 2003 and October 2014, 362 investment projects were announced by Indian firms in USA.