The US today assured that the proposed assembling in the manufacturing sector in India will create several jobs for the local people.
US Commerce Secretary Gary Locke said that the US saw abundant opportunities in India in areas of medical technology, power, financial services, hi-technology and clean energy.
However, he said the FDI in retail was not the key priority during the discussions with Indian business leaders and the government authorities.
India's rising middle-class population would encourage the US firms to invest in India, the Commerce Secretary told a private news channel.
He said there was ample scope for assembling products in India which were manufactured in the US.
Some of the leading CEOs who are travelling with US President Barack Obama include Immelt GE, Davecote of Honeywell, Indra Nooyi of Pepsico and Paul Hanrahan of AES and some representatives of Boeing.
In today's summit, several deals are expected to be announced, US NSA Tom Donilon said in a statement which was circulated to the reporters at the Taj Palace and Towers where Obama will be staying tonight.
Approximately 200 entrepreneurs each from America and India will be participating in the summit.
This is by far the largest summit of entrepreneurs accompanied by the US President ever, Donilon said in the statement.
"The visits by the US Presidents over the last 50 years are highly significant and this one will be highly significant as we try to take the relationship to a different level going beyond bilateral elements that we will be working on," he said.
