Indian entrepreneurs invited to set up business in US

Chennai, Nov 27 (UNI) United States Attorney Michael Kraus today urged the Indian entrepreneurs to setup firms in the US to strengthen business relations between the two countries.

Addressing members of the Indo-American Chamber of Commerce here on 'Doing business with USA', he explained the advantages of setting up businesses and tax benefits offered by different states in the US.

"Compared to India, it is neither expensive nor time-consuming to set up firms in our country", he claimed, adding business can be established even by a single Indian citizen without much capital.

"There is also no need to have minimum capital", he pointed out.

The total investment from India during 2006-2007 was US dollar billion through 46 deals, with information technology-enabled services accounting for 48 per cent, he said Mr Michael pointed out that small and mid-sized deals, ranging from US Dollar 20 to US Dollar 60 million, occupied the centre stage and more such deals were in the offing.

"If anyone proposes to acquire firms in the US, do it with due diligence with regard to the technical, financial and legal aspects properly", he said and added "avoid going to companies, which offer service at lesser rates".

UNI