FDI from US to peak at $1 bln by 2010: IACC

New Delhi, Aug 3 (UNI) Foreign Direct Investment (FDI) inflow from the US to India will increase to 1 billion dollar annually by 2010, according to the Indo-American Chamber of Commerce (IACC).

''Since liberalisation in 1991, the total inflow of FDI till date has peaked up to 5.03 billion dollars, and the coming years will witness increased inflow of FDI, against the backdrop of solid pick up in the Indian manufacturing and infrastructure sectors,'' IACC President B Prabhakar said.

There is a greater scope of US investment in sectors infrastructure, frontier technologies IT and energy, particularly in the civil use of nuclear energy in view of the imminent conclusion of the nuclear treaty with India.

To catalyse the FDI flow into India in diverse sectors like infrastructure, civil aviation, real estate, manufacturing particularly outsourcing of design, knowledge based manufacturing, engineering services etc, IACC is holding an Investment Summit in September this year in New Delhi.

The summit will be the ideal forum to discuss the future prospects of the Indian investment in the US, which will not only help proliferating the joint ventures and technical collaborations, but through backward and forward linkages of such investments, merchandise trade will also look up.

Delegates from India and the US will deliberate the investment scope, glitches in attracting FDI, policy prescriptions that are needed to accelerate the FDI flow etc, at the meet.

Significant changes are taking place in sectors like real estate, infrastructure, civil aviation and manufacturing in India.

Policy relaxations in these sectors, particularly in the real estate, have the potential to attract FDI into these sectors.

Policy framers from India and the US, representatives of large, medium and small corporations, investment experts, bankers and consulting firms, from both countries will attend the two-day meet, which is likely to identify several frontiers areas for investment by both the countries.

Significantly, there is an enhanced flow of investment from India to the US, which was a small amount in the previous years.

Also, such outflows are taking place in diverse fields like IT, manufacturing, retailing, pharmaceuticals, hotels etc.

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