NEW DELHI: United States urged India to join the Global Marketplace because of the “tremendous strides” it had made in creating a strong and diversified industrial base.
Speaking at the annual meeting of the federation of Indian chambers of commerce and industry (FICC) U.S Ambassador William Clark Jr’s said India could come in as an equal partner and share in the fruits of inter dependence something which has propelled the US Europe and Pacific rim countries to levels of economic well-being “unimaginable a generation ago.”
“What has driven America’s growth, and that of its trading partners, has been the inherent logic of a free enterprise economic system allowed to run its course,” he said.
He called the automaticity of approval for foreign investments not exceeding 40 percent equity as “a welcome step toward investment liberalization” and said the US would endorse any further measures to make investment policies clear
Article extracted from this publication >> July 6, 1990
