Indian FDI in the US growing

India is the eighth fastest growing source of FDI in the US

India is the eighth fastest growing source of foreign direct investments (FDIs) in the United States, according to John M McCaslin, minister counselor for commercial affairs, US Commercial Service, Delhi.

Interacting with mediapersons here on Wednesday, McCaslin said the US was attracting a total of $300 billion FDIs a year and India's investments were to the tune of $9 billion in 2012.  In 2011, Indian FDIs in the US accounted for just over $7 billion.At the same, the US FDI in India last year increased to $28.38 billion from $24.66 billion in 2011.

Pointing out that the cost of energy was  “declining dramatically” in the US following the discovery of large shale gas reserves, McCaslin said this would make his country more attractive for foreign investments. In fact, “US will be the largest oil exporter in the world in 5-10 years,” he said.In India, McCaslin said, American companies were looking at sectors like aerospace, aviation, airport infrastructure, healthcare equipment and defence, which were estimated to have large potential for investments.