US INVESTMENT MAY BE DOUBLED IN INDIA IF POLICIES ARE LIBERATED FURTHER

New Delhi, April 20  Appreciating the Narendra Modi government’s initiatives to make India investor-friendly, US Assistant Secretary of State for South and Central Asian Affairs Nisha Desai Biswal on Tuesday said US investment in India would be doubled if policies were liberalised further.

Delivering a talk on “US-India Economic Relations” here, Biswal said the Barack Obama administration supports the Modi government’s programmes such as ‘Make in India’ and ‘Start Up India’.

“The Indian government is working hard to make it (India) more investor-friendly,” she remarked, saying that the country would need “huge foreign investment” as urbanisation was taking place very fast.

“When we talk about India’s economic growth, we essentially talk about its urbanisation,” she said.

Biswal, an Indian-American who was born in Gujarat and later shifted to the US, also expressed satisfaction on the overall relations between the two nations, and said both were “large vocal democracies”.

“US’ direct investment in India has already surpassed what we invested in China,” she said, adding that the two countries were capable enough to work out differences to ensure better economic growth for their people.

Biswal said India’s economy has the potential to drive the economy of the entire world.

She praised the heads of both the governments, saying meetings between Modi and Obama have helped both the nations come closer.