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Build core sector to attract FDI: US

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August 18, 2005 18:39 IST

The United States wants India to do more in developing a world-class infrastructure, energy security, creation of true national markets and protection of intellectual property rights to attract American investments.

''The most prominent challenge is world-class infrastructure, which India must provide as a platform for sustained higher growth and rural development, especially in agriculture,'' David C Mulford, US Ambassador to India told members of the Indian Chamber of Commerce and the Indo-USChamber of Commerce in Kolkata.

Pointing out that Prime Minister Manmohan Singh had identified energy security as a priority area to push India towards its ambitious growth agenda in the coming decades, he said, ''adequate and reliable supplies of energy at reasonable cost are essential to fuel India's rapidly growing economy.''

Mulford said India must make a concerted effort in creating a true national market and give full protection of intellectual property rights.

He claimed that such reforms in liberalising the economy would improve living standards in ways that the average citizen could feel and understand.

''Political credit will accrue to those in government with the vision to effect such change.''

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