PUNE, February 8: US investors may switch priorities to other south-east Asian countries if bureaucratic red tapism continues to try their perseverence in India," said Raj Dheer, US commercial counsel to India, while addressing members of the Indo-American Chamber of Commerce. This was among the main reasons why only two per cent of the commitments in the infrastructure sector had actually materialised.Speaking on ``What investors in the US look for in India,'' Dheer stressed on better information flow between the two countries and urged for a nodal agency assuming responsibility for clearing US investments in India.
"US companies are looking for a faster process and more answers upfront," he said. High license fees in India make investments irrecoverable for investors and coupled with lack of coherent policies antagonise potential investors in the US.
Dheer said that in order to catch up with the next millenium and bridge gaps, foreign direct investment (FDI) must seep into sectors such as energy,banking, transport and communications. In spite of the problems, there is a confirmed increase in US investments in India. US investors look up to Enron for guidance as it has already tested Indian waters, he said.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
