Five Days Of Clinton, $4 Billion In Deals

His India visit loosens up a logjam of stalled investments

President Clinton may have done little to persuade India to forego nuclear weapons during his visit in March. But the trip accomplished exactly what U.S. business had hoped: It broke the logjam for getting deals done in a nation with huge potential but a frustrating bureaucracy, political volatility, and trade barriers. During Clinton's five-day visit, U.S. companies signed two dozen deals, worth $4 billion, in sectors from finance to telecommunications. "Many U.S. corporations are taking this as a mandate to go forward in India," says Anil Srivastava, CEO of AcrossWorld Communications Inc., a San Jose (Calif.) telecom-networking company that during the trip finalized a $50 million partnership it had been negotiating for a year.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.