The latest data on foreign investment suggest that the US has fallen behind Japan, UK, Mauritius and South Korea. West Bengal accounts for only 3.5 per cent of the US investments in India.
Speaking at an interactive session organised by the Calcutta Chamber of Commerce (CCC), yesterday, Christopher J Sandrolini, Consul General of the United States of America said, "Eastern India has potential to generate 60,000 mw of power (thermal and hydel), but lack of transmission and distribution facilities along with acute funding constraints are major impediments."
Eastern India is also the country's largest producer of fruits and vegetables and only two per cent is processed. "Therefore scope for food processing industries is immense" he added.
India has also undertaken measures to promote and protect foreign direct invetsment (FDI) and foster economic co-operation. As of March 2000, India had concluded 37 bilateral investment treaties and 72 double taxation treaties.
Hemant Kanoria, president Calcutta Chamber of Commerce (CCC) urged US paticipation in West Bengal. "One way of doing this is by keeping prospective US investors posted with relevant information pertaining to trade and investment" said Kanoria.
A survey of 118 US investors in India done by the American embassy revealed that the total market value of their investments in the country was $5.3 billion and they employed nearly 49,000 people.
It is also estimated that an additional investment of $4.6 billion may come in during 2000-03. But, US investments in Malaysia is around $16 billion.
