U.S. Investors Leave India -- Is It Permanent?

Venture investment in India slid to $117 million in the first half of this year, down from $413 million last year -- a nearly 72 percent drop. The number of deals was down too, from 67 to 27, according to a survey by Venture Intelligence and the Global-India Venture Capital Association. Battery Ventures (which said this month it would close its Indian office) isn't the only U.S. firm pulling back, according to Naren Gupta, a longtime Silicon Valley tech executive who co-founded Nexus India Capital in Mumbai and Menlo Park's Sand Hill Road. More U.S. VCs and private equity investors have been leaving India over the last year than coming in, he says."The only difference with Battery is they announced it."

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