US realty major Trump plans India foray

The "incredible" growth in the Indian realty sector has attracted Trump Organisation, the largest high-end condominium builder of the US, and it is looking for a joint venture partnership in India over the next 12-18 months.

"We are looking for JV partners to enter India. That is precisely why I am here. We are interested in the major cities for investment," Donald Trump Jr, executive vice president (development and acquisition), Trump Organisation, said today.

"On a later date, we may enter the secondary and tertiary cities as they grow," he added.

Asked which cities his company would be interested to invest in, he said, "certainly, the city I'm standing on (Mumbai), Delhi, Hyderabad and Bangalore where the IT sector has witnessed a boom."

Trump said the company had no intention to enter the middle or low-income segment since it is "the best in the high-end sector."

The company would also look at developing hotels and resorts, he said.
"Now is the time to come to India... We hope to strike the deal in the next 12-18 months. We will be eager to do it before that," Trump Jr said. He, however, declined to divulge the proposed investment, saying it would depend on the projects.

According to him, India has created a far more conducive environment for foreign investment over the past decade. Infrastructure still remained a major roadblock, and this needed to be addressed, he said.

"Deregulation has paved the way for foreign direct investment (FDI). Foreign players have been provided with a level playing field. That's great. Whenever they come, efficiencies grow. India required FDI to take the sector to the next level. It will help other sectors as well," he said.