New Delhi: India has come out as one of the fastest-growing economies in the world. Several companies from around the world, including from the United States, are trying to enter the Indian market and further expand their businesses in the country.
As per the reports, at least a dozen US-based corporate giants are lobbying with their government to help them enter or expand further in India’s growing market.
These companies are lobbying with the US government to facilitate market access and easing foreign investment rules in India.
Wal-Mart Stores, Starbucks, Morgan Stanley, New York Life Insurance and Prudential Financial make it to the list of multi-nationals rearing to enter the Indian market. Corporate giants such as Intel, Dow Chemical, Pfizer, AT&T, Alcatel-Lucent, Boeing, Raytheon and Lockheed Martin are also soliciting the support of the US government for promoting their Indian business interests.
These companies are estimated to have spent millions of dollars on their lobbying activities.
However, the foreign investment ceilings in various sectors in India come in the way of US companies who are looking to expand in India. The corporate giants are therefore seeking help from their government to aid their expansion plans.