30 AUG, 2012, 05.14PM IST, PTI
High investment potential for US firms in Indian infrastructure sector
HOUSTON: India's ambitious $ 1 trillion investmenttarget in infrastructure in the next five years offers immense opportunities for the US firms here, a top Indian diplomat has said.
"Besides innovation and advanced technology, India's priority to invest in modernising its infrastructure sector- over $ 1 trillion in the next five years, also opens opportunities for US firms in Houston to invest and harness opportunities for collaboration in this sector", Ambassador Arun Singh said.
Singh, who is the Deputy Chief of Mission in the Indian Embassy in Washington, was speaking at an event under the banner "United In Excellence" organised by the Indo-American Chamber of Commerce Greater Houston (IACCGH) late last week.
Most of this investment is expected to come through Public Private Partnerships, he said.
"I would encourage the businesses in Houston not to miss the immense business potential inherent in India's commitment to build its entire infrastructure," Singh said.
Among dignitaries who attended the meeting included U S Republican Sheila Jackson Lee, newly appointed Consul General of Houston, P Harish, Chancellor and President University of Houston Renu Khator and Harris County Judge Edward Emmett.
Appreciating the key role of IACCGH in bringing the two countries together, Ambassador Singh said the Chamber initiatives has impacted the overall atmosphere of the India-US relationship in an extremely positive way.
"Going beyond all this, I feel the strongest element in our partnership is the people-to-people dimension", he said.
It was recalled that there are now nearly 3 million Indian Americans in the US and around 1,00,000 Indian students in US Universities contribute $ 3 billion annually as tuition fees.
There are also 60,000 Indian origin doctors in US. Besides 40 per cent of all hotel rooms are owned and managed by Indian Americans.
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