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India, US vital markets for each other: US

Challenging the notion that US investment in India has gone down, an official has said that the two countries remain vital markets for each other and India still has an attractive business climate.

business Updated: Jul 02, 2011 11:30 IST

Challenging the notion that US investment in India has gone down, an official has said that the two countries remain vital markets for each other and India still has an attractive business climate.

"I haven't seen a figure that says that US investment has gone down to India," state department spokesman Mark Toner said on Friday when a reporter suggested that US investment in India has gone down.

"India remains a vital market for the US and vice versa. I mean, that goes without saying," he said pointing to the just concluded India's biggest $4.1 billion deal with the US for 10 Boeing C-17 heavy-lift aircraft.

"That said, we just had a significant deal, if you will, for transport aircraft that's going to significantly boost India's air transport capabilities," Toner said.

Asked if the corruption problem in India was cooling off US investors, the spokesperson said: "Again, it remains an attractive business climate, I think, for the US."