A top Obama official has said that India has become the second fastest growing investor in the US. It is just superseded by the UAE in between 2004-08.

Robert D Hormats, Under Secretary of State for Economic, Energy and Agricultural Affairs said that over the years the names of investors has changed with main new names joining the list. India, UAE, Spain and Chile are the most prominent ones.

He quoted that the total investment by UAE has shown a rise of 230 per cent average rise over the above mentioned period, followed by India which rose by 64 per cent.

Spain showed 60 per cent while Chile had 50 per cent increase in investments. Switzerland grew by 38 per cent.

In the list of typical Asian names were, China which invested 30 per cent higher. South Korea was at 31 per cent and Indonesia at 27 per cent.

Hormats was however was very critical about the development and said that most of the Americans are not aware of this shift and it would be sometime before they are able to embrace this gradual but important change.