Top CEOs of India and the US have suggested setting up a $10 billion dedicated debt fund for infrastructure development in India.
The recommendation were made by the Indo-US CEO Forum comprising 12 members from both the countries including Tata Group chief Ratan Tata and Head of Honeywell Corp. Dave Cote.
"We have identified certain issues on which we should work together...," Finance Minister Pranab Mukherjee, who led the Indian delegation to the CEO Forum told PTI.
He said the CEOs had identified areas like education, infrastructure, clean energy, bio tech and health for the two countries to work on.
India needs $1 trillion of infrastructure investment in next seven years, of which 25-30 per cent can be provided by overseas investors including the US firms.
The suggestion to set up $10 billion infrastructure fund along with investment proposals in education, clean energy, bio-technolgy and health sector, follows the Indian government's decision to establish a high-level committee to identify areas for expanding economic ties with the US.
The high level committee, to be set up under Planning Commission Deputy Chairman Montek Singh Ahluwalia, would coordinate with various ministries and prepare a roadmap before US President Barack Obama's scheduled visit in India in November this year.
