New Initiative Encouraging Indian Diaspora to Invest Launched
Tuesday, October 13, 2015
A new investment initiative, announced by President Barack Obama during his New Delhi visit early this year, that makes it easier for the Indian diaspora to invest in small and medium businesses in India has been launched here.
The Indian Investment Initiative (III) was launched yesterday in partnership with US Agency for International Development (USAID) and Calvert Foundation.
The initiative had gained momentum in recent weeks, particularly after Prime Minister Narendra Modi's last month trip to Silicon Valley.
"The Calvert Foundation, together with USAID and the State Department, just launched an initiative that will make it easier for the Indian American diaspora to invest in small and medium-sized businesses back home," US Secretary of State John Kerry said in his address to the 2015 Global Diaspora Week Launch Event at the State Department.
"The III offers a parallel tool for Indian Americans to help achieve these goals," said Nish Acharya, director of IDII.
It is a leading example of the new generation of opportunities that can leverage the closer relations between the US and India, he said.