SelectUSA urges Indians to invest in the US

CHENNAI: SelectUSA is a government-wide initiative started in June 2011, to encourage, facilitate and accelerate business investments in the United States of America, by both foreign and domestic firms. In relation to this, Barry EA Johnson, Executive Director of SelectUSA was in the city on Monday to meet business people and to provide a platform for Indian companies looking to invest in the US.Speaking to the press after the meeting, Johnson said that the US values investments from India, and that the county is among the top 10 on SelectUSA’s priorities list. “Our interest is global attraction, and our strategic focus is very, very important to us. Asia is one of our most important markets,” he said.“A big part of what we are doing is listening to the customer response and the problems they face while investing in America,” said Johnson. He described the activities of SelectUSA as a way of doing business with the American government, and that they were “actively building a pipeline of potential investors.” He added that they were working in close collaboration with their embassies and consulates the world over, as they were the officials who were the contact point in the community.This being his first visit to India, Johnson plans to visit Mumbai in addition to Chennai. He said that he would not be visiting any particular industry, and this trip would not be his last. “We do not have a sector focus right now. We prefer to talk about the characteristics of the investment: high value, high growth, globally relevant products and services,” he said.“Investment is about job creation – not only primary jobs, but secondary and tertiary jobs,” said Johnson. As of now, 5.5 million direct jobs are a result of foreign investments and 18% of exports are from foreign firms who have invested in the US, he said. When asked if the Occupy Wall Street protests might make investors apprehensive, he said that business people tend to think long term and that he did not feel that it would affect Foreign Direct Investments or domestic investments.Also present at the press meet was Judy Reinke, Minister Counsellor for Commercial Affairs, US Embassy, New Delhi.