Investment in India

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DEPOSITED BY THE

UNITED STATES OF AMERICA

5-11-61

Foreword

This handbook, one in a series of country studies issued by the U.S. Department of Commerce, supersedes the 1953 edition of a similar handbook on India. It brings together in a single publication basic economic and commercial information on India which investors, exporters, and importers will find helpful.

The fifteen chapters present an overall view of the Indian economy; the outlook and climate for private trade and foreign investment; the extent of present foreign investment; basic marketing and trade data with emphasis on United States interests; descriptions of significant economic activities which provide a guide to opportunities for new or expanded productive enterprises; and industrial, labor, financial, and taxation policies and legislation of importance to business.

The information furnished is not intended to serve in lieu of the detailed legal, financial, and business investigations which must be carried out before definite action is taken by the businessman. It is hoped, however, that this publication, used as a reference book, will be helpful in such investigations. The U.S. Department of Commerce invites requests for additional information and assistance. Such inquiries_should be addressed to any Field Office of the Department or to the Far Eastern Division, Bureau of Foreign Commerce, U.S. Department of Commerce, Washington 25, D.C.

Generally, the cutoff date for most of the material in this handbook was mid-1960, but every attempt was made to include important changes through October 1960. It is planned to keep the basic information up to date through the World Trade Information Service, which should be consulted for subsequent information on economic, administrative, and legal developments affecting private foreign investment. Current developments are reported in Foreign Commerce Weekly. Both the Foreign Commerce Weekly and World Trade Information Service reports may be purchased from any Field Office of the Department of Commerce or from the Superintendent of Documents, U.S. Government Printing Office, Washington 25, D.C.

The preparation of this study, which included an on-the-scene investigation in India, was undertaken by Celia I. Herman, Southern Asia Section, Far Eastern Division, under the direction of Eugene M. Braderman, Director of that Division.

Others who were of great assistance were the foreign trade sections in the New York, Los Angeles, and San Francisco Field Offices of the U.S. Department of Commerce; the economic and commercial staffs of the American Embassy and Consulates General in India; the Office of South Asian Affairs, U.S. Department of State, Washington; the Office of International Labor Affairs and the Bureau of Labor Statistics, U.S. Department of Labor, Washington; the Embassy of India, Washington; the Counsellor, Commission General for Economic Affairs of India, Washington; Government of India officials in the Ministry of Commerce and Industry and in the Ministry of Finance, New Delhi, as well as in the Reserve Bank of India, Bombay, particularly the Economic Department. The manuscript was edited by Nancy L. Powars.

Special thanks are due the many United States, Indian, and other business officials and their staffs in the United States and India who rendered valuable assistance in connection with this study.

Grāmatas