India an attractive investment destination: US

Terming India as an 'attractive and dynamic' investment destination, a top US diplomat on Tuesday said that more companies from his country were 'expected' to invest in the country this year, saying they wanted to "participate in India's growth".

"Lot of US companies are investing in India to bring products and technology to participate in India's growth. And we expect to see more investment," US Consul General to South India, Andrew T Simkin, told PTI in Chennai.

However, he did not quantify the extent of expected investments.

India on the whole was an 'attractive and dynamic investment destination,' he said on the sidelines of a press conference organised by US-based BorgWarner to announce their new Indian operations at a cost of Rs 30 crore (Rs 300 million).

The company investing in India was a 'reflection' of India's attractiveness as a premier investment destination, the official said adding that US companies investing in India especially Tamil Nadu, were 'high-tech' companies with a 'long-term commitment.'

Tamil Nadu attracted a lot of US investment on the manufacturing front, Simkin said adding that 'companies are looking at overall competitive markets.'

"The latest investement by BorgWarner reflects their (US companies) optimism," he said.

Among other major US players, carmaker Ford has invested in the state and had recently gone in for expansion of their facility.