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Shri Kamal Nath, Union Minister of Commerce & Industry, will be leading a high-powered business delegation to the United States (US) for the Focus India Show – Indo-US Business Partnership to be held in Chicago from September 27-29, 2005. High on the agenda of the delegation are foreign direct investments (FDI), joint ventures and tie-ups between Indian and US companies for third countries exports.
Billed as the first serious bid by India to showcase its manufacturing prowess to mid-sized US companies in the US, the Chicago Exhibition and Conference is being organised by the Federation of Indian Chambers of Commerce & Industry (FICCI) and the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce & Industry, and is supported by the Consul General India, Chicago. This process has brought the States of Delhi, Madhya Pradesh and Tamil Nadu; Export Promotion Councils and the Indian tourism industry to participate in a big way in the Focus India Show.
FDI from USA
USA ranks first in terms of FDI approval in India and accounts for about 24.41% of FDI Approvals (net of ADRs/GDRs) of the total investment approvals.
USA ranks second in terms of FDI inflows into India and cumulative FDI inflows (net of ADRs/GDRs) from USA are US $ 4.71 billion (16.54%), excluding FDI inflows received for acquisition of existing shares (upto 1999), RBI’s-NRI schemes, stock swapped and advance pending for issue of shares.
Top sectors attracting FDI approvals (from August 1991 to June 2005) from USA are Fuels (power & oil refinery) (35.10%), Telecommunications (10.33%), Electrical Equipments (including computer software & electronics) (10.04%), Services Sector (financial & non-financial) (9.58%) & Food Processing Industries (9.29%).
Top sectors attracting FDI inflows (from January 2000 to June 2005) from USA are Electrical Equipments (including computer software & electronics) (27.80%), Services Sector (financial & non-financial) (12.91%), Consultancy Services (10.22%), Transportation Industries (8.33%) & Fuels (power & oil refinery) (4.99%).
The Major US companies (from August 1991 to June 2005) which have invested in India are M/s. Coca-Cola South Asia Holding Inc., Enron International, Mission Energy Company, CMS Generation, Fluor Damiel Inc., Ford Motor Company, Enron Power Development Corporation, CMS Generation, General Motors, Ford Motor Company, Folio Holding Inc., IBM, GE, Motorola, Public Power International Ltd., Soros Fund Management, Energy Corporation, Cogentrix, PepsiCo, Gillette, Procter & Gamble, Mc Donald, Morgan, Kellogg, Caltex, AT&T, Bechtel, etc.
Top FDI inflows received (from January 2000 to June 2005) from US through Indian companies are M/s. E-Serve International Ltd., CITICORP. FINANCE (I) Ltd., Grant Investrade Ltd., IBM Global Services India Pvt. Ltd., Silverline Technologies Ltd., Bank of America Sec. I Pvt. Ltd., Goodyear South Asia Tyres Pvt. Ltd., Caltex Gas India (P) Ltd., Lupin Ltd., General Motors India Ltd, Citicorp Overseas Software, etc.
SB/MRS
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