India invests more than what US invests in India

Indian Ambassador Ronen Sen has said that what was earlier considered a joke. The Indian investment in the United Kingdom and the United States now equals or exceeds British investment and American investment in India.

In remarks to the 26th annual convention of the American Association of Physicians of Indian Origin here in Las Vegas, Sen exhorted the Indian American community to get this message out to the American public to counter the unfair rap India gets that American jobs are being outsourced to India.

"More and more people are realising that whether it's trade, whether it's investment, whether it's job creation, it's a two-way street. Indian exports to the United States are growing � last year they grew by 10 percent - but US exports to India grew by 35 percent and India is the fastest growing export destination for the United States," he said.

clipped from www.rediff.com India invests more than what US invests in India Sen said that today, "That's actually happened in both countries, and this is good. And, I would request you - because you come across this wide cross-section of people in the United States - just to make this reality evident to most others because they think that when they think of jobs, they think of India, they think of outsourcing, they think of India." He reiterated that "it's not reality and it's something which we are not even interested in because India will continue to import more than we export. India's growth is not going to be threatening. It's not going to be led by exports, it's going to be led by domestic demand." But, he acknowledged that "we need technology and we need imports and technology transfer and also capital in certain areas and that's important. And, in that, the United States is becoming an important partner."