Industry very upbeat and optimistic about India: CII Delegation in San Francisco

A high level CII delegation clarified recent changes brought about by the Modi government which will open up big opportunities for US-India collaboration to a packed audience of entrepreneurs and investors in Silicon Valley on Sept 08.

At an event organized by CII and The Indus Entrepreneurs (TiE), the CII Director General, Mr Chandrajit Banerjee highlighted that the Modi government has had to tackle huge challenges posed by laws and regulations including in coal, land etc. and stressed that things are moving on the ground. He further pointed to the tremendous changes underway as a result of the renewed focus on ease of business as also the new spirit of competition amongst Indian states that are all looking to invite US investments.

Mr Tarun Sawhney, Vice Chairman and Managing a Director, Triveni Engineering and industries also pointed to the huge opportunities being presented in sectors such as defence especially through the Make in India program.

Mr Deep Kapuria, Chairman, Hi-Tech Gears, mentioned the tremendous opportunities presented by the SME sector where there is burgeoning collaboration between Indian and US companies, though much more in terms of supply chain integration could be done.

Mr Rahul Munjal, Managing Director and CEO, Hero Future Energies expressed confidence that in the renewable energy sector, the aggressive target of 100GW by 2022 set by the Modi government is entirely achievable given that 5GW has already been achieved this year and 3-4 GW are likely to result over the coming few months. If the trend sustains, the target should be reached.

Dr Rajiv Modi, Chairman and Managing Director, Cadila Pharmaceuticals stressed about the progress being made by the Indian pharmaceutical industry and the governments effort to provide highest quality medicines to the maximum number of people.

The CII delegation's visit came at an opportune time given PM Modi's upcoming visit to Silicon Valley in just weeks time. The delegation members interacted with the investor community, entrepreneurs, as well as with mainstream US companies. They also met with Ambassador Venkatesh Ashok, India's Consul General in San Francisco.

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