The Hindu Business Line : India, US mull bilateral investment agreement

WASHINGTON: Against the backdrop of enhanced two-way investment flows, India and the United States are mulling a 'mutually beneficial' bilateral investment agreement.

The issue is expected to be discussed next month in Chicago when the Commerce Minister Mr Kamal Nath is scheduled to meet US Trade Representative Ms Susan Schwab.

"In the private sector, we are hopeful of moving forward to pursue and conclude a mutually beneficial agreement between India and the United States. India has negotiated many investment agreements with countries around the world, in Europe and Canada," s aid Ambassador Ms Susan Esserman, former Deputy US Trade Representative and currently with Steptoe and Johnson.

"Given the increased stature of our relationship, the incredible increased investment on both sides it would be the appropriate logical next step. And we in the private sector are very enthusiastic about this possibility," Ms Esserman said at the US Cham ber of Commerce.

"We think there is a great deal of opportunity to benefit both sides reaching a mutually agreeable investment agreement," she added.

"We are at the very beginning of the discussions...we see great opportunities for enhanced investment in India," Ms Esserman said making the point that an investment agreement will be 'beneficial' to facilitate investment in many areas like infrastructur e. - PTI

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