India is a partner of the United States for maintaining peace and stability in the region, US Consul General Craig Hall said today.
Hall, who was speaking at an interactive session for fostering entrepreneurs and start-ups, said Prime Minister Narendra Modi has accelerated change in India.
The two countries are the best of friends, Hall said when asked to comment on the recent Indo-US global business summit -- GES 2017 -- in Hyderabad where Advisor to the US President, Ivanka Trump, was present along with Modi.
"We have to hang together for peace and stability in the region," he said.
Hall said he wants to see more action with foreign business partners and would like to support industry body Assocham and the ALFA network, who are working to create a conducive climate for new-age entrepreneurs.
Hall said both India and the US share beliefs about the need of empowering the entrepreneurs and opening the door to potential investors and mentors.
"It has been a prerogative of the US as well as Indian government to create a favourable climate to enable the growth of more innovators and reduce the regulatory hurdles that limit opportunities for any prospective start-up," he said.
He said that in the current year, USA is number five on the list of foeign investors in India with USD 660 million which is nearly 6 per cent of the total FDI in this country.
India's bilateral trade with the US was estimated at USD 114.8 billion in 2016 and India is currently USA's ninth largest goods trading partner with USD 67.7 billion two-way goods trade during 2016, another US official who was present at the meet, said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)