India Vineyard

Indians are the third fastest growing foreign investors in the United States, a top Obama Administration official has said, acknowledging the positive contribution of India in the US economy at the time of recession. ?India is the third fastest growing foreign investor in the US,? said Holly Vineyard, Deputy Assistant Secretary of Commerce for Africa, the Middle East and South Asia, at an event here on Monday. Vineyard said Indian investment in 2008 was $4.5 billion but the investments in 2009 grew 60 per cent higher than investments in the previous year.

Recovering from early losses, the Bombay Stock Exchange benchmark Sensex on Tuesday ended 74 points up at a six-week high on fag-end buying by funds in bluechips, particularly RCom and Sterlite Industries. Rising for the fifth straight day, the 30-share barometer of the Bombay Stock Exchange ended higher by 74.66 points, or 0.43 per cent, at 17,412.83. Encouraging advance tax numbers from India Inc also helped the market offset the downgrade of Greece by Moody?s, brokers said.

Seeking to contain runaway inflation, the Reserve Bank of India on Tuesday said it may take action even before the scheduled monetary policy review next month, a move that could result in higher interest rate. ?High inflation is a concern. Inflation is always a concern and will remain a concern (for RBI). At some stage monetary policy has to address the issue,? RBI deputy governor K C Chakrabarty told reporters on the sidelines of a function in the capital on Tuesday.

Seeking to contain runaway inflation, the Reserve Bank of India on Tuesday said it may take action even before the scheduled monetary policy review next month, a move that could result in higher interest rate. ?High inflation is a concern. Inflation is always a concern and will remain a concern (for RBI). At some stage monetary policy has to address the issue,? RBI deputy governor K C Chakrabarty told reporters on the sidelines of a function in the capital on Tuesday. ... contd.

Full Story: India the third fastest growing investor in US - Indian Express

Indians are the third fastest growing foreign investors in the United States, a top Obama Administration official has said, acknowledging the positive contribution of India in the US economy at the time of recession. "India is the third fastest growing foreign investor in the US," said Holly Vineyard, Deputy Assistant Secretary of Commerce for Africa, the Middle East and South Asia, at an event on Monday.

Vineyard said Indian investment in 2008 was USD 4.5 billion but the investments in 2009 grew 60 per cent higher than investments in the previous year. He was quoting from a yet to be published report by India US World Affairs Institute and the University of Maryland.

The report will soon be released by Congressman, Jim McDermott, Co-Chair of the Congressional Caucus on India and Indian-Americans, at a function organized by the East West Center, a Washington-based think tank.

Full Story: India, 3rd-fastest growing investor in US - Indian Express