US Announces $4Billion Investments, Loans to India

Obama, during his visit to India, has promised that Overseas Private Investment Corporation will give loans of at least one billion dollars to small scale businesses.

Published: 26th January 2015 11:26 PM  |   Last Updated: 26th January 2015 11:26 PM   |  A+A-


NEW DELHI: US President Barack Obama today announced investments and loans worth USD 4 billion by American agencies as part of measures to bolster trade with India.   

"Over the next two years our Export-Import Bank will commit up to USD 1 billion in financing made in America exports to India... And our US Trade and Development Agency will aim to leverage nearly USD 2 billion investments in renewable energy in India," he said at the India-US Business Summit here this evening.    

The visiting US President also said Overseas Private Investment Corporation will 'support lending' worth about USD 1 billion to small and medium businesses across India in under-served rural and urban markets.  

Obama also said the two countries are moving forward to realise the true potential of economic relations. "...there is new momentum, new energy, new hope that we can finally begin to realise the potential of our economic relationship," Obama said.    

Stressing that India and the US are true global partners, he said, "We can grow and we can prosper together and establish a set of global norms in terms of how business is done that will not just benefit our two countries but people around the world".

On the second day of this three-day visit, Obama along with Prime Minister Narendra Modi also participated in the India-US CEO Forum.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp