US embassy survey predicts boom in energy investments for India

Vol 3, PW 20 (27 Oct 99) News in Brief

The US embassy in Delhi is predicting the Indian energy sector will attract the bulk of future US direct investment into India.

In a survey conducted between October 98 and February 99, the embassy sampled 118 companies and concluded that these companies would invest an aggregate $4.6bn between 1999-2003, and that most of it will be directed into the energy sector. This is the fourth survey of US investment in India, following reports in 1994, 1995 and 1997.

In this issue the total market value of US investment in India was estimated at around $10bn by end 1998. The survey comes as US energy secretary Bill Richardson lands in India for talks with senior members of the new cabinet, in the first visit to India by a US administration official since the BJP returned to power.