The US is considering investment support of $4 billion for India on top of billions of dollars extended earlier in the day, according to New Delhi on Monday after the two sides signed an agreement to keep such money flowing.
The DFC of the US International Development Finance Corporation or its predecessor agencies has provided India $5.8 billion, of which $2.9 billion is outstanding for Covid 19 vaccine manufacturing, healthcare, renewable energy, financial inclusion and infrastructure.
Minister of Finance said yesterday that proposals worth $4 billion are being considered by DFC for investment support in India. The ministry of finance said that officials from the two countries met in Tokyo where their leaders will hold a summit on Tuesday.
The ministry said the latest agreement would lead to enhanced investment support from DFC in India. On Monday, US President Joe Biden and Prime Minister Narendra Modi were among 13 government leaders who have co-managed a partnership called the Indo-Pacific Economic Framework for Prosperity.