India has attractive business climate for US: State Dept

WASHINGTON: India and the US remain "vital" markets for each other, a top official here has said, refuting reports that American investment in India has dropped.

"We just had a significant deal, if you will, for transport aircraft that's going to significantly boost India's air transport capabilities," State Department spokesman Mark Toner said at his daily news conference.

He was referring to the Indian government's decision to buy 10 C-17 heavy-lift military aircraft from the US at a cost of $ 4.1 billion, the biggest defence deal between the two countries

"Look, India remains a vital market for the US and vice versa. That goes without saying," Toner said yesterday.

His remarks came when asked about reports that claimed the American investment in India has dropped.

India remains an attractive business climate for the US, Toner insisted.