US Keen to Invest in India’s Infra, Port, Solar Sector Development, says OPIC

He, however, added that OPIC does not have any numerical target for investments in India, and the development finance institution is looking at the merits of the projects in India.

OPIC is eagerly interested to invest in the development of India’s infrastructure, port and solar energy sectors, said David Bohigian, Executive Vice-President, Overseas Private Investment Corporation (OPIC) of US.

The US government’s development finance institution OPIC Executive, who is visiting India, further said that India is clearly the anchor of US government’s Indo-Pacific strategy.

OPIC is a self-sustaining US government agency that helps American businesses invest in emerging markets.

During an interaction with media, Bohigian said that, “We are looking across all sectors (of India for investment) including infrastructure development, port development and solar energy sector, not just in venture capital.”

He, however, added that OPIC does not have any numerical target for investments in India, and the development finance institution is looking at the merits of the projects in India.

“We are proud to announce our investments in Iron Pillar, a mid-stage India-focused venture capital fund,” Bohigian added.

He also noted that when countries take development finance from any source, then the policymakers must ensure sovereignty of the host country, rights and transparency in project funding.

Bohigian said the OPIC has USD 23 billion portfolios across 90 countries in the world in every sector from small, medium size ventures up to major infrastructure projects.

In India, it has around 40 projects with total investments valued at USD 1.5 billion, he added.

Source: PTI