The Hindu : Andhra Pradesh / Hyderabad News : NRIs' body calls for change in investment strategy

Online edition of India's National Newspaper
Tuesday, Jan 10, 2006

Andhra Pradesh

Andhra Pradesh - Hyderabad

NRIs' body calls for change in investment strategy

Special Correspondent

HYDERABAD: The US India Political Action Committee (USINPAC) has suggested paradigm shift in the Government strategy on attracting foreign investments, from merely looking out for big companies to small and medium enterprises.

Sanjay Puri, V. Rao Emandi and Surabhi Garg, chairman and members of USINPAC said India and various States need to look beyond Microsoft, GE and other big companies towards small and medium enterprises that constituted 90 percent of the industry spread over whole of US. "These are the Googles and Yahoos in the making whom India should tap".

`India needs to do more'

They said China changed its strategy and nearly 32 Governors from US have visited that country and returned home mighty pleased. In contrast at best two Governors might have visited India so far. India needs to do much more in assuring the NRIs, returns on their investment and a single window, fast track clearances for projects, if it was keen on getting their investments.

The 40,000 member- strong USINPAC was doing a tremendous job in lobbying with the India caucus in the Congress to see that various decisions benefit Indians. It was because of its lobbying that the HI-B visa quota has gone up.

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