Press Trust of India / New Delhi Sep 11, 2009, 15:34 IST
The US officials are here to woo foreign direct investment from India which saw impressive annual growth rate of 64 per cent in the last five years.
A team of officials led by Director of 'Invest in America' Aaron Brickman made presentations to India's industry bodies like FICCI about the business prospects in the US economy, which is showing early signs of recovery.
"Indian firms have been successful in number of sectors across United States ... Time is good right now because in the midst of economic challenges there is an opportunity," he said.
India's FDI to the US was $4.5 billion in 2008 and $2.8 billion in the previous year.
Besides being an attractive destination for an inward FDI, the outflows from India have also been increasing.
As the Indian firms became increasingly integrated with the global economy, the country's total outflows rose from $6.14 billion in 2005-06 to $18.76 in 2008-09.
As for the inward FDI, July this year witnessed a 56 per cent increase to $3.51 billion from $2.25 billion in the year-ago month.
Reliance ADA Group and Reliance Industries, the Tatas, Essar Group, Jet Airways, Wipro and Canara Bank have recently made investments in the US.
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