India has suggested that US defence companies may form a consortium to look for opportunities here in the sector, Commerce and Industry Minister Nirmala Sitharaman said today.
During the bilateral meeting with her US counterpart, the minister highlighted that for big-ticket defence related investments in India, only one or two American business delegates talking about it or looking at possibilities of investments in India may not be enough.
"I did suggest that, she (US Commerce Secretary Penny Pritzker) should facilitate forming of a consortium in relation to defence related investment interests (in India)," she told reporters here.
The government is pushing hard to attract foreign direct investments in the defence sector after relaxing FDI norms.
When asked about the response of the US side on this suggestion, she stated that "they said yes sure".
The minister also said that the USIBC came here with a huge delegation but there was no representation from the medical devices industry or related to pharmacy and medical.
"I raised that this sector holds lot of potential and if there are investors from the US who wants to join them (Indian firms), I suggested that they need not to wait for the next round of talks and the medical device sector people can form a a delegation and come," she added.
The government has permitted 100 per cent foreign direct investment in the medical devices sector.
The Indian side, she said, also talked about attracting investments in infrastructure sector.
The US CEOs were here for the India-CEO Forum meet which is part of the second Strategic and Commercial Dialogue.
On the discussions about the government procurement issue between the two countries, she said the finance ministry is engaged on this matter with the US.
"As regard with our engagement on public procurement, it is limited to the extent of sharing on information," she said.
On the proposed totalisation agreement or social security pact with the US, she said: "I put it on record saying, consultation had not happened with the stakeholders before a major decision...Happened and we would like the American administration to hear it from us and we shall not be happy with this kind of position".
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