US Looking To Invest In India’s Port, Infra & Solar Sector Development: OPIC
New Delhi: According to top US officials, the government’s development finance institution OPIC is looking to invest in the development of India’s crucial infrastructure, port and solar energy sectors.
This comes in the wake of Overseas Private Investment Corporation (OPIC) Executive Vice-President David Bohigian visiting India. Bohigian had earlier remarked that India is a clearly the flag-bearer of US government’s Indo-Pacific strategy.
Speaking on investment plans in India he said, “We are looking across all sectors (of India for investment) including infrastructure development, port development and solar energy sector, not just in venture capital.”
However, Bohigian further informed that OPIC does not have any specific numerical target for investments in India and it is looking at the merits of the projects in India. He also added that when countries take development finance from any source, then the policymakers must ensure sovereignty of the host country, rights and transparency in project funding.
Notably, OPIC is a self-sustaining US government agency that helps American businesses invest in emerging markets across the globe. In India, it has around 40 projects with total investments valued at USD 1.5 billion.