Indian Finance Minister P. Chidambaram will visit the U.S. from July 9-12. During this four-day visit, he is expected to meet the U.S. Secretary for Treasury Jacob J. Lew, Senator Max Baucus, and prominent U.S. business leaders.
The visit is expected to focus on the investments of U.S. companies in India, in the area of infrastructure. Both sides are also expected to deliberate on tax related matters, and other policy measures to boost investment in India.
Chidambaram will also deliver the keynote address at the U.S.-India Business Council Leadership Summit in Washington DC, on July 11.
India and U.S. share strong bilateral and trade relations. The U.S. is the fourth largest source of Foreign Direct Investments (FDI) into India. The cumulative FDI inflows from the U.S. during the period from April 2000 to January 2012 amounted to approximately $10.36 billion – constituting 6% of the total FDI into India. Bilateral trade between the two countries stood at $59.2 billion in 2011-12.
Both countries have established a number of joint initiatives, which includes the India-U.S. Financial and Economic Partnership, the India-U.S. Trade Policy Forum, and the India-U.S. CEO’s Forum, to facilitate bilateral trade and investment.