A top Obama administration official has said that Indians are the third fastest growing foreign Investors in the United States of America. The official acknowledged India’s positive contribution in economy of the United States during recession.

Holly Vineyard, Deputy Assistant Secretary of Commerce for Africa, the Middle East and South Asia, made this statement at an event in Washington on June 14.

From in.news.yahoo.com:

“In contrast”, the FICCI secretary general pointed out, “India was facing difficulties in attracting US investment in its infrastructure sector.” US needs to do more in the infrastructure sector, he said.

“We have come here to tell the US government and businesses, ”get in there”.” To boost the US involvement in India, FICCI is following Track II policy, envisioned by the External Affairs Minister, S M Krishna, and the Secretary of State, Hillary Clinton when they meeting here earlier this month.

The policy works on enhancing public private engagement in economic and strategic sectors in both the countries. Yesterday, as part of Track II policy, FICCI signed a memorandum of understanding with the Council on Competitiveness.

In the MOU, FICCI and the Council agreed to work together to accomplish projects that shared their mutual interests including the development of innovative human capital and sustainable development.

The report is expected to be released by Congressman, Jim McDermott, Co-Chair of the Congressional Caucus on India and Indian-Americans, at a function organized by the East West Center.