It would provide information to help Indian companies exploring investment opportunities in the US
It gave a threefold assurance that it would provide information to help Indian companies exploring investment opportunities in the US, put them in touch with economic development organisations in various states and that the federal government would
Mumbai: The SelectUSA organisation ratcheted up its mandate to help Indian companies to invest in the US ahead of Prime Minister Narendra Modi’s visit to the US.
It gave a threefold assurance that it would provide information to help Indian companies exploring investment opportunities in the US, put them in touch with economic development organisations in various states and that the federal government would act as an ombudsman for the Indian companies. Wooing Indian business, particularly the SME’s, Vinai Thummalapally, ED gave the example of S.G.Mills of Coimbatore who are going to invest $40 million in two years in North Carolina.
To underline its seriousness at a round table meet organised by Exim Bank and SelectUSA in Mumbai, a SelectUSA executive was asked to follow up the query of Hyderabad’s Bharat Biotech about the possibility of selling its diarrhoea vaccine in the US. The company’s vaccine developed over 14 years, sells for just $1 against the same available in the US at $40.
T. Srinivas VP, finance, Bharat Biotech speaking to this correspondent said “The USA is one of the most regulated markets and we want to have their perception on our vaccine. The vaccine was developed at a cost of $60 million that included clinical trials, and was funded by the Bill and Melinda Gates Foun-dation. We have the capacity to produce 600 million doses at our new plant built specifically for this purpose.
( Source : dc correspondent )
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