Us Firms Keen On Housing Ventures

The entry of foreign firms, it was said, will generate jobs and meet the housing shortage in the country. It was felt that the US firms and their local partners could hold 50 per cent each in the joint ventures.

The US representatives sought the support of the Joint Business Council (JBC) to prevail on the Foreign Investment Promotion Board and the Foreign Investment Promotion Council to evolve a proactive approach on these issues.

Indo-US JBC co-chairman & Lehman Brothers vice-chairman Howard L Clark said at a meeting with representatives of the Federation of Indian Chambers of Commerce & Industry and the Associated Chambers of Commerce that high interest rates were hampering the growth of employment-generating small and medium firms.

 

India will see major disappointments