‘Indian companies should increase presence in US’

September 8th, 2008 - 11:02 pm ICT by IANS  

New Delhi, Sep 8 (IANS) Indian companies should ramp up their presence in the US to take advantage of the huge consumer market, a top US official said here Monday. Speaking at a business seminar, David Bohigian, assistant secretary of state in the department of commerce, said investments from India account for only one percent of all foreign investment in the US.

But, he said this statistics had the potential to rise to mirror India’s rapid economic growth.

He added that Indian companies had made substantial investments in the IT sector. The importance of in-sourcing must also be underscored politically by the government leaders on both the sides, Bohigian said.

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