American companies keen on investing in India have evinced interest in the setting up of special investment zones in various Indian states where they would be provided with facilities for manufacturing, petro-chemicals and services industries, Minister of State for Commerce and Industries Ashwani Kumar has said.
Several inquiries have been received about the scheme which would ultimately cover all states, Kumar, who is on a visit to the US, said in New York on Thursday.
The scheme consists of creating investment regions comprising 100 to 200 square km where facilities would be provided for manufacturing, petro-chemical and services industries, he said.
Kumar has been meeting investors, representatives of chambers of Industry and Commerce, CEOs of major companies and Indian-American entrepreneurs individually and in groups to seek investments for India.
During the interactions, Kumar said he found major companies very keen in investing in India as they consider China has reached a saturation point so far as receiving investments are concerned. Besides, they consider India to be a lucrative and expanding market with increasing middle class.
Addressing more than 100 CEOs and top officials of several major corporations in New York and equally well-attended meeting in Chicago, Kumar explained that India expects to achieve nine per cent sustained growth rate over next 10 to 15 years which will take its $775-billion economy to $1.6-trillion economy in 7 to 10 years.
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