 "Look at India as next investment destination: Piyush Goyal to US businesses")
Commerce and Industry Minister Piyush Goyal has called upon American businesses to look at India as their next investment destination.
Addressing India Chamber of Commerce USA’s Summit on Global Financial and Investment Leadership on Wednesday, he said the bilateral trade target of $500 billion in the next five years is “eminently doable”.
“We are moving from red-tape to red-carpet. We are moving out of the shackles of the past into a more open and liberal foreign investment destination,” he said.
The bilateral trade between the two countries grew from $126 billion in 2017 to $145 billion in 2019.
Wooing American investors, the minister said India is looking at logistics reform to bring down the cost of logistics and doing several tax reforms.
“We have insolvency laws in place. India's corporate tax is amongst the lowest in the world. My own ministry is working at ‘plug and play’ and cluster development.
“We are looking at a genuine single-window system which makes it easy for companies and businesses to work in India. We promise faster registration, easier availability of infrastructure,” he added.
Further, the minister informed that the third “India-US 2+2 dialogue” is expected to take place on October 26 and 27.
Addressing India Chamber of Commerce USA’s Summit on Global Financial and Investment Leadership on Wednesday, he said the bilateral trade target of $500 billion in the next five years is “eminently doable”.
“We are moving from red-tape to red-carpet. We are moving out of the shackles of the past into a more open and liberal foreign investment destination,” he said.
Also Read
Wooing American investors, the minister said India is looking at logistics reform to bring down the cost of logistics and doing several tax reforms.
“We have insolvency laws in place. India's corporate tax is amongst the lowest in the world. My own ministry is working at ‘plug and play’ and cluster development.
“We are looking at a genuine single-window system which makes it easy for companies and businesses to work in India. We promise faster registration, easier availability of infrastructure,” he added.
Further, the minister informed that the third “India-US 2+2 dialogue” is expected to take place on October 26 and 27.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%