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India to attract FDIs in satellite broadcasting: Lavin

Written by: Staff

New Delhi, Dec 5 (UNI) The United States today said India can attract huge foreign direct investments (FDI) in satellite broadcasting and cable television sectors, once the restrictive policies are eased.

''India can attract huge FDI once the Goverment makes the policies investment friendly,'' Under Secretary of Commerce for International Trade Franklin Lavin told reporters here.

Referring to the greater role of small and medium enterprises (SMEs) in the industrial sectors, Mr Lavin has called for an Indo-US forum for SMEs in both countries to pave the way for greater economic cooperation.

''The SMEs constitute a predominant part of both Indian and US economies, and that a thrust in this area will promote investment and overall economic cooperation,'' Mr Lavin said.

He, further, added that proactive steps taken in opening up the civil aviation sector, reduction of the peak customs duty, changes that have been made in the Intellectual Property Rights regime, relaxed FDI cap on various segments like telecom are positive steps.

However, he flagged some of the challenges including that of restrictions sector, financial services, pension sector and lower threshold in the telecom sector.

Mr Lavin welcomed the Indian senior commercial officers to explore the possibility of a larger US participation in the Indo-US economic summit to be organised in September, 2007 under the aegis of IACC.

''We have to create newer avenues and ideas for economic cooperation and that can come through only with these high level interactions,'' he said.

He supported signing a totalisation agreement between India and US which can lead to avoidance of double taxation in Social Security tax.


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