Modi govt.acting to improve business climate,says US Ambassador
By Abha Manakatala - Mon Sep 14, 1:10 pm
While addressing the 11th Indo-U.S. Economic Summit in New Delhi today, U.S.Ambassador Richard opined that the U.S. has taken bilateral trade to $ 500 Billion.
The Summit,hosted by Indo-U.S. Economic Chamber of Commerce had its own subject-‘Taking Bilateral Trade to 500 Billion Dollars.’
Verma said:” Government and industry together are cooperatively engaged in, infrastructure and logistics, clean and renewable energy, hospitality and tourism, and the ‘Digital India’,’ Smart Cities’, and ‘Make in India’ initiatives. I am happy to note that this Summit will address these themes in detail.”
He praised the Narendra Modi government and its initiatives saying,” India’s economic and investment climate will in part determine the success of these initiatives – and bilateral trade. Whether it’s improving the ease of doing business or establishing commercial courts or streamlining government services through e-governance initiatives, the Modi government is aware and is acting to improve the business climate. “
Further,the U.S.Ambassador said:” We are also actively encouraging Indian investment and job creation in the United States. Over the past few years, India has become the second fastest growing source of foreign direct investment into the United States. In fact, more than 91,000 jobs were created and 15 billion dollars invested in the U.S., according to a recent survey of 100 Indian companies in the United States. Indian companies collectively have a geographical footprint in every state in the nation, are diversified in sectors from IT to automotive to construction, and the overwhelming majority of these companies intend to make additional investments and hire more employees in the U.S. in the next five years. There is plenty of optimism to be shared by both India and the U.S., attesting to the strength of our private sectors and the role they play in our nations’ economic growth.”
He pointed out that Prime Minister Modi will make his return visit to New York.He is going to be “the first Indian PM to visit California in decades. There is quite a buzz around the PM’s visit to San Francisco and Silicon Valley, and not just from the vibrant Indian-American community there, which over the last two decades has helped to transform the high technology sector and bring our nations’ culture of innovation and entrepreneurship even closer. Prime Minister Modi’s visit will provide an opportunity to explore how new technologies can help India with issues such as building safe, clean, and smart cities, providing opportunity for a quality education, securing reliable electricity for hundreds of millions of its people, and much more. American businesses are very eager to partner with India to find new solutions to these issues”,said U.S Ambassador.