E-Paper
US to India: Relax FDI norm in education
It would help the American universities set up bases in India and provide an opportunity to students here, says US.
The US on Tuesday asked India to further relax norms for Foreign Direct Investment (FDI) in the education sector to pave the way for American universities to set up base in India.
"There are many bright Indian students who are unable to make it to American universities. So relaxation of FDI norms would help the American universities set up bases in India and give an opportunity for Indians to get American education," said US Consul General Michael S Owen.
Owen was speaking on "Promoting Indo-US Relationship: A Way Forward" at the Indian Merchants' Chamber .
The US consul general felt that American universities in India will also bring American students to India.
The US government is in talks with India, on relaxing the FDI norms for the education sector, he said.
About 81,000 Indian students - largest from any country - are pursuing higher education in the US.
Referring to bilateral trade, Owen said it is expected to cross $40 billion by 2008 from the current $30 billion.
He also pointed out to the untapped trade opportunities between the two countries.
Indo-US trade in a year is equivalent to US-Canada trade carried out in three weeks, he said.
In coming months, two US trade delegations, from New York and California, will visit India. The Californian delegation will be headed by its Governor Arnold Schwarzenegger, he said.
