US eyeing business prospects in East India

Kolkata, Mar 28 (UNI) US businesses are eyeing prospects in information technology, biotechnology, manufacturing and financial services sectors in East India.

"We are targetting investments opportunities in IT, biotechnology, manufacturing and financial services," Mr Jardine said while launching the Kolkata chapter of the American Chamber of Commerce (AMCHAM) here today.

The chapter, fifth in the country, was formally launched by Mr Jardine and AMCHAM India executive director Ramesh Bajpai.

''The establishment of a local AMCHAM chapter reflects the growing presence and interest of US businesses in eastern India. The chapter will help serve as an advocate for businesses in the region,'' Mr Jardine said.

The members of the new chapter represent important US companies doing business in Kolkata and is starting with a core group of 12 companies.

''The chamber intends to act as a platform to extend and support the initiatives of the state government to attract foreign direct investments (FDI) from not only American Fortune 1000 companies, but also from the large pool of small and medium enterprises(SMEs)in the US,'' Mr Bajpai said, West Bengal has attracted billion from 1991 till date.

AMCHAM-India is an association of US business organizations in India.

In India AMCHAM has chapters in Bangalore, Hyderabad, Mumbai and Chennai.

Approximately 25 American business entities currently operate in West Bengal.

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