China so far the largest beneficiary of US Eb5 Program: Russell Barr


President, & CEO, Stowe Aviation, Mr. Russell Barr on Friday disclosed that China has been the largest beneficiary of EB5 programme of the United States which aims at creating a great deal of employment in US through foreign investments.

Addressing an Interactive Session on “Destination USA” under aegis of PHD Chamber of Commerce and Industry here today, Mr. Barr also disclosed, “US administration now sees India as one of the major beneficiary of this programme because of Indians entrepreneurs skills”.

US according to him is an immigration encouraging country and through EB5 programme, the country would like to encourage foreign investors to park their surpluses in US economy, particularly its suburbs and urban pockets and create an established employment through such investments for the US citizens.

Speaking on the occasion, President, United States-India Business Forum (USIBF), Ms. Jatinder Singh said that in the emerging scenario, the US administration would encourage Indian investors to take advantage of this programme and gradually replace China because of various factors, language and currency fluctuation among such reasons.

She advised the potential investors to detail their homework and study pros and corns of the EB5 programme of US administration so that investments are well protected and their returns becomes reasonable because of stringent law of the land, non-compliance of which might create problems for investors.

Co-Chairman, International Affairs Committee for Asia & Pacific, PHD Chamber, Mr. Sanjeev Ahuja said that information about EB5 programme given during the interactive session in such detailed and structured way is timely for the Indian investors as it helps them to explore investment opportunities in US and let their surplus get used differently as also enable them to be part of the EB5 action plan.

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