India and the US are on course to finalise the India-US bilateral investment treaty. Prime Minister Manmohan Singh is scheduled to visit the US next month and take the process to the next level. The bilateral agreement would provide a framework for more secure return on investments,insure investment risks taken by American companies investing in India and also ensure fair processes for the award of projects. Once the treaty comes through,it will enable billions of dollars of foreign direct investment (FDI) to come to India . The United States wants to partner and work together with India in the areas of green energy,green collar jobs and green initiatives, Timothy J Roemer,US ambassador to India,said in Delhi today addressing the Confederation of Indian Industry (CII). US Trade Representative Ron Kirk has already visited India to discuss the treaty and another visit is scheduled in October,he added. Answering a query raised by CII chief mentor Tarun Das,Roemer said that even though American infrastructure companies are keen to invest in Indian projects,they have raised concerns over the barriers that exist for them to bid for projects. These are being worked upon, he said. Another key area identified by the two sides is that of co-operation in education. There are about 90,000 Indian students studying in America . There should be more cooperation between educational institutions, the ambassador said. The two countries are floating a chief executive officers (CEOs) forum together where industry honchos on both sides will co-operate to engage in business deals and promote investment and trade.
