Bhubaneswar, Jan. 22: US ambassador to India Richard R. Verma today said Odisha should compete with other Indian states and emulate Singapore's industry-friendly atmosphere to attract investments from the private sector in the US.

The ambassador said: "I met chief minister Naveen Patnaik. We had discussions on a wide range of subjects, including ease of doing business, business opportunities and the prevailing business climate. There should be two-way trading."

State government officials briefed the ambassador about the state's industrial policy and how it was emerging as one of the best investment destinations in the country. The chief minister also stressed on more collaboration in the field of education and tourism between Odisha and the US.

The two also discussed the prevailing tax structure and land availability for the setting up business establishments and the opportunities in the tourism sector. They also discussed about the availability of infrastructure to attract investments. In the meeting, it was agreed that both the US and state government officials would meet at regular intervals to sort out various problems faced by American companies working here and Odisha entrepreneurs doing business in America.

Stating that there is scope for business investments in India, which is emerging as a global power, and US, the ambassador said: "Now, the volume of business is around $105 billion. The target of meeting $500 billion set by US President Barrack Obama and Narendra Modi is a realistic one as the Indo-US relationship has reached a new high in 2015. There is excitement and resurgence in the bilateral relations. We have broken all previous records in each field."

Expressing his concern on the slowdown of economy in China, Verma said: "Both the US and India have withstood the slowdown as the two countries have strong business fundamentals, there is fiscal discipline and low inflation."

Talking on a wide range of subject, Verma said how the relationship between the two countries was growing.

"Regardless of who wins the elections in the US, the Indo-US relations will remain a high priority," he said.

Verma also lauded the efforts of India on the climate pact made in Paris. On being asked about the US approach on terrorism vis-à-vis the ISI, he said all kinds of terrorist activities would be dealt seriously.

"There is now more exchange of intelligence inputs between US and India," he said.

Earlier, he met the business leaders of Odisha and discussed the business opportunities available both in the US and India. " It's a great privilege to meet the business leaders. We discussed how we could increase better economic opportunities," he said.

Later, he also visited the Kalinga Institute of Social Science, where 25,000 tribal children are residing and pursuing their studies. The US ambassador said he was proud of his Indian roots and happy to have come on a visit to Odisha.

"My parents and grandparents were from India. My father and my mother were teachers. My grandmother was also a teacher. However, my grandfather did not get scope for education," said Verma, emphasising his Indian roots.