Describing the Indo-US ties as a “multiplicative relationship”, US Ambassador to India Eric Garcetti on Tuesday said the United States wants more of its investments to flow into India.

He pitched for easier corporate tax practices and relaxations of other barriers for companies to invest in India.

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Speaking at a conference on ‘Strengthening Indo-US Relationship in Amritkal-Aatmanirbhar Bharat’ organised by the Indo-American Chamber of Commerce (IACC), Garcetti said, “We also have to see that opaque corporate tax practices still are a barrier to too many companies that want to be here. And this is a great moment for all of you to recruit our companies. Every CEO is saying tell me about India. They want to invest.”

Noting that he would want foreign direct investments to shift from China to India, he, however, added that the flow of FDI into India is not at par with its potential currently and several companies are looking more towards the Southeast Asian countries.

“We want the foreign direct investment from China to shift, but… FDI is not flowing into India at the pace it should be. Instead, it’s going to countries like Southeast Asia, countries like Vietnam. I would selfishly like to see more of that happening here but I need your help,” Garcetti said.

In a bid to further enhance and strengthen bilateral ties, he said there is need for both the countries to get rid of the walls, be it bureaucratic, taxation related, regulatory or part of the federal system which would unleash more jobs, prosperity, investments and strength.

Garcetti was of the view that the bilateral ties between the largest and the oldest democracies in the world is not additive or not just complementary to each other, rather it is multiplicative and would help both the countries to witness multifold growth across segments.

He also said the US has issued 60 per cent more visas to Indians, and within a shorter span of time, about 70 per cent lesser time than before. Garcetti further said the US is trying to bring down the time required for issuance of visas to Indians.

Pankaj Bohra, national president, IACC; Dr. Lalit Bhasin, conference chair and immediate past national president IACC; Abhishek Prakash, Secretary, Industrial Development, CEO, Invest UP; Arun Karna regional president, IACC – NIC & Managing Director & CEO AT & T Global Network Services India Pvt Ltd and Dr. Upasana Arora, immediate past regional president, IACC & Managing Director, Yashoda Super Specialty Hospitals were also present on the occasion.