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US envoy hopeful of Indo-US bilateral investment treaty being endorsed | US Ambassador to India Timothy Roemer has said that he is hopeful that a bilateral investment treaty between US and India will be signed by end of the year. Addressing
a seminar 'Strengthening US-India Economic and Commerce Ties' hosted by Confederation
of Indian Industry (CII) here on Thursday, Roemer said, "The signing of bilateral
investment treaty would encourage the entry of billions of dollars in foreign
direct investment in infrastructure sector. the envoy said there have been initial
negotiations on the proposed treaty. He said: "It will encourage more US companies
to come to India in infrastructure, power, energy, electrical grid... That kind
of agreement will benefit both countries and we are hopeful that after the successful
negotiation that took place back in late spring summer" He hoped that the next
round od discussion that would be held later in the year would result in progress
and hopefully the signing of a bilateral investment treaty. According to a report
based on survey by the Virtus Global Partners, USA and ICRA Management Consulting
Services Ltd (ImaCS), the US bound transactions from India have dropped significantly
this year as compared to the previous year. There were only ten US bound transactions
in the first three quarters of 2009. |
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