Union Minister Nitin Gadkari has called for Indian companies to form joint ventures with US companies to leverage new technologies, while also expressing an ambitious target to make India's automobile industry the world's number one within five years.
Majority of American companies are overwhelmingly optimistic about China and rank the world's factory as the top investment destination for them in 2010, even as they face daunting challenges in their native market, says an industry survey.
'The belief that FDI will shift from China appears to be a strategy of politicians to keep the media busy, chasing irrelevant news to ward off pressure and questions about the government's plans to deal with COVID,' observes Debashis Basu.
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