March 1, 2011, Washington DC: The Alliance for US India Business (AUSIB) welcomes India’s Union Budget for FY 2011-12, and rates it as a very investor friendly budget that could help attract more investments into India.

Sanjay Puri, AUSIB President said, “We are very happy that this budget is high on foreign investments and it has opened doors for investments in infrastructure and equity mutual funds. We look forward to working with India and US companies on utilizing this opportunity and playing our part in the Indian growth story.”

The 2011 Budget will allow foreign investors to invest in infrastructure bonds and also equity mutual funds. This could be very attractive to foreign investors, as also Indian asset management companies who can expect to see a widening of scope of investors in India. The Budget focuses on improving the basic drivers of economic growth such as education, infrastructure and agriculture. It has also tried to keep the fiscal and budgetary deficits under control, which will be important in the long-term growth of the country.