You are invited: India to US
India, which is the real back office of United States of America is stepping into recession. Two Economists in the government – the Prime Minister of the Nation, Manmohan Singh and his Cabinet colleague Palaniappan Chidamabaram, the finance minister of the Union is looking for opening the Indian gates even wider for the FDI, though it is already open.
The Finance minister is visiting United States whenever he feels India is dollar scarce. The recent hit in Indian money has put the equation as 61 Indian National Rupee = 1 United States Dollar. India’s development story appears to stagnate. But the Finance minister and Prime minister of the Indian Union are optimistic.
India is trying to woo Canada too. India recommends the Americans to invest in India’s fast growing infrastructure industry. The Union budget of India recommends tax payers to invest in Infrastructure bonds. But the buyers are very less.
The Finance Minister has shown his tough face to Indian industrialists in the recent past as the elections are approaching. He wanted the super rich to pay extra tax. He pressured Reliance Industries Limited (RIL) , one of the biggest industry to sell the Liquefied Petroleum Gas (LPG) with the accepted price of last year. This move was justified as RIL did not sell the amount of LPG accepted in the last financial year.But he has to speak sweeter to Investors from North America.
India hopes the reviving US Economy would help her economy. India’s Software industry highly hangs on the US dominated for survival. ( However the scenario changes these days at a slow pace.)
India has recently saw FITCH, a rating agency, has stated that India is back on the track, to stability.But most Indian’s are not subscribing to this thought.
India can plunge into the rating of ‘Junk’ if the India development story did not go well. Indian companies have started investing in foreign lands. The FinMin and others feel bad – that when there is an invite for US and Canada to invest, the Indian industrialists going out of their homeland may blink bad signals to the Americans.
The FM can not take all his best options to work for a major reason. India is going to have elections coming May. There are signals that the ruling Indian national congress may not come back again to the power. But do the other camp have any agenda for Economic stability and growth is a million dollar question. India always is a land where questions are in bounty but the answer basket is almost empty.
All the Best, India.