Finance minister Arun Jaitley on Tuesday embarked on a roadshow spread over eight days and covering three cities in the US to hardsell the India growth story to investors and thinktanks in a bid to attract investment. Arun Jaitley’s trip is pegged strictly at reaching out to business communities and addressing top business schools and thinktanks; and he won’t be holding any government-to-government meetings, not even with his counterpart, US treasury secretary Jacob Lew, finance ministry sources said.
He is accompanied by a small team of officers, including finance secretary Rajiv Mehrishi. A delegation from the Indian industry will also join him to highlight India’s improved investment climate and positive economic outlook on the back of recent policy initiatives of the government.
The US is the largest market for Indian exports while it ranks sixth in terms of FDI between FY01 and FY15. In FY15, India had a trade surplus of $20.5 billion with the US while FDI from there stood at $1.82 billion. This is in contrast to China, which has a huge trade surplus and invests little in India.
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