Vast opportunities for U.S. companies in India: FM

India Monday said there are vast opportunities for U.S. companies in this country and hoped the bilateral trade grow up to 500 billion U.S. dollars.

"There are vast investment opportunities in India for American companies, especially in the infrastructure sector like roads, ports, railways and clean energy," Indian Finance Minister Arun Jaitley said.

"Our objective is to build on Indo-U.S. bilateral relations. We have a large number of resources while they have the capital. We hope the Indo-U.S. bilateral trade grow from the current 100 billion U.S. dollars to 500 billion U.S. dollars."

The Finance Minister, who was addressing the 11th Indo-U.S. Economic Summit in the national capital, also said India is taking all possible efforts to put in place a predictable and fair tax regime.

"There is need for us to have several internal changes, including quick decision-making, stable policies, predictable tax regime and improve ease of doing business. Already the current government is taking efforts to resolve several legacy issues," he said.

The summit came just days before Indian Prime Minister Narendra Modi's scheduled visit to the U.S. where he is also likely to meet President Barack Obama. Endi