India investment initiative |
A new investment initiative, announced by President Barack Obama during his New Delhi visit early 2015 that makes it easier for Indian Americans to invest in small and medium businesses in India, was launched Oct. 9 in partnership with the U.S. Agency for International Development and the Calvert Foundation.The initiative had gained momentum in recent weeks, particularly after Prime Minister Narendra Modi`s recent 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. U.S. Secretary of State John Kerry said in his address to the 2015 Global Diaspora Week Launch Event at the State Department. The IDII offers a parallel tool for Indian Americans to help achieve these goals, said Nish Acharya, Indian American director of IDII.It is a leading example of the new generation of opportunities that can leverage the closer relations between the U.S. and India, he said.IDIIprovides the first retail impact investment opportunity available to Indian Americans to finance businesses with a social purpose in India.Its first commitment is an investment in IntelleGrow, one of India`s leading lenders to small and medium enterprises.
|
|
|
|