The reforms undertaken by India in the last two years by the PM Narendra Modi-led NDA government are resonating very well with the US companies, according to Dr Mukesh Aghi, president, USIBC - a business advocacy organisation, comprised of 350 top-tier US and Indian companies advancing US-India commercial ties.
“In a recent USIBC survey, about 20 percent of our member companies confirmed that have already invested over $ 15 billion in India ever since Prime Minister Modi assumed office. Within this and the next year, we expect more than $ 27 billion to be invested additionally by at least 52 US companies in India,” said Dr Mukesh Aghi, who along with high powered business delegation led by USIBC chairman John Chambers on February 17, 2016 met PM Modi and several ministers to explore new opportunities for US-India relationship.
Dr Aghi added, “We commend India’s rise in the ease of doing business index. USIBC members are buoyed by the direction of reforms undertaken by Prime Minister’s Modi’s government in the last two years that include fast-tracking approvals, the transparent auction of key natural resources, and creating a level playing field for investors, which has led to growth in investments. USIBC has reorganised its policy groups to address the priorities outlined by Prime Minister Modi, with a strong focus on growing manufacturing ties. During our discussions, we emphasised on next steps to boost investor confidence through a robust IP policy, providing greater clarity on certain FDI regulations, as well as implementing the GST.”
The discussions focused on growing the US-India trade relationship exponentially. The delegation held meetings with PM Narendra Modi, Defense Minister Manohar Parrikar, Power Minister Piyush Goyal, Commerce Minister Nirmala Sitharaman, IT Minister Ravi Shankar Prasad, Minister of State for Finance Jayant Sinha, Andhra Pradesh Chief Minister Chandra Babu Naidu, Foreign Secretary Dr Jaishankar, and US Ambassador Richard Verma.
John Chambers said, “Both countries have a huge opportunity to scale bilateral trade exponentially in the coming years. Over the last 40 years USIBC has built a strong foundation in engaging US business in India and we are excited to take the US-India business relationship to the next level.”
“In a recent USIBC survey, about 20 percent of our member companies confirmed that have already invested over $ 15 billion in India ever since Prime Minister Modi assumed office. Within this and the next year, we expect more than $ 27 billion to be invested additionally by at least 52 US companies in India,” said Dr Mukesh Aghi, who along with high powered business delegation led by USIBC chairman John Chambers on February 17, 2016 met PM Modi and several ministers to explore new opportunities for US-India relationship.
Dr Aghi added, “We commend India’s rise in the ease of doing business index. USIBC members are buoyed by the direction of reforms undertaken by Prime Minister’s Modi’s government in the last two years that include fast-tracking approvals, the transparent auction of key natural resources, and creating a level playing field for investors, which has led to growth in investments. USIBC has reorganised its policy groups to address the priorities outlined by Prime Minister Modi, with a strong focus on growing manufacturing ties. During our discussions, we emphasised on next steps to boost investor confidence through a robust IP policy, providing greater clarity on certain FDI regulations, as well as implementing the GST.”
The discussions focused on growing the US-India trade relationship exponentially. The delegation held meetings with PM Narendra Modi, Defense Minister Manohar Parrikar, Power Minister Piyush Goyal, Commerce Minister Nirmala Sitharaman, IT Minister Ravi Shankar Prasad, Minister of State for Finance Jayant Sinha, Andhra Pradesh Chief Minister Chandra Babu Naidu, Foreign Secretary Dr Jaishankar, and US Ambassador Richard Verma.
John Chambers said, “Both countries have a huge opportunity to scale bilateral trade exponentially in the coming years. Over the last 40 years USIBC has built a strong foundation in engaging US business in India and we are excited to take the US-India business relationship to the next level.”
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