US Consulate General says
Hyderabad, September 21, 2006Addressing participants at the Indus Enterprises Indian School of Business connect-2006, the networking meeting organized on the theme 'Sculpting ideas building business', the Unite States Consulate General David T.Hopper on Thursday said that with a GDP of $691 million, India ranked 5 globally and No.3 in Asia and its rapid growth make it one of the fastest growing economies in the world.
He said India was the most favored destination for venture capitalists globally. Among MNCs investing over $1 billion were Microsoft, Intel, AMD and Cisco while Suzuki had planned for $800 million. He said that he was astonished at the rapid growth in IT and ITES sectors. However, he said much needed to be done on the bureaucratic front and a clear policy was required.
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