Overseas Private Investment Corporation (OPIC), a development finance institution of the US Government, may triple its portfolio in India to $ 750 million by December this year, its President and Chief Executive Officer (CEO), Ms Elizabeth Littlefield has said.

"At the beginning of this calendar year, our India portfolio was $ 250 million. During this year, we will be financing another $ 500 million of investment, resulting in a $ 750 million portfolio", Ms Littlefield told reporters here.

Most of the growth will be in the renewable energy sector, she said, adding that OPIC will also this year be supporting two private equity funds that will invest in this sector.

OPIC, which facilitates flow of US private capital into key emerging markets, offers four products--direct loans, guarantees, insurance and support for private equity funds.

During the US President Mr Barack Obama’s visit to India in November last year, OPIC had announced its intent to grow significantly here.

"Since then, we have put a lot of energy in our work here. By the end of this year, we may double our business in India. If you include commitments and not just disbursements, we may triple it. We are excited about that kind of growth here", Ms Littlefield said.

Mr Littlefield also said that India would continue to see lot of foreign direct investment (FDI) from US companies. "We hope that US FDI will give rise to exports later. We see US companies are more excited about their prospects in Indian market. They see growth here", she noted.

Related Topics