FB   
 
Powered bysps
        Society for Policy Studies
 
 

 
US companies commit continued investments in India
Posted:Dec 4, 2017
 
Print
Share
  
increase Font size decrease Font size
 
Representatives of around 45 American companies met Prime Minister Narendra Modi at this year's Global Entrepreneurship Summit (GES) in Hyderabad and expressed their commitment to continue investing in India, a top Indian American business leader has said.
 
 
These representatives were part of a delegation of the US India Strategic Partnership Forum (USISPF), a newly set-up non-profit organisation focused on deepening business relations between the US and India and enhancing the strategic relationship between the two countries.
 
"I can't talk about the specifics (of the meeting with Modi) because it was off the record. But basically the companies did meet with the Prime Minister and they showed their commitment to continued investment into India," USISPF President Mukesh Aghi told IANS in an interview.
 
The US looks at building its relationship with India on two broad principles. "One principle is that economic prosperity of India is good for America. And the second principle is a militarily strong India is good for regional stability," Aghi said.
 
If India became economically more prosperous and there was more disposable income, people would tend to buy more US goods, or send more of their kids for education to the US, he said.
 
"If you look at this year, the enrollment of Indian students in the US went up by 12 per cent. So we have 186,000 Indian students in the US," he stated.
 
"That's one. Two, if you look at companies like Amazon, look at Uber, look at WhatsApp or Google, you know they have a tremendous market share in the Indian market. Their businesses grow because consumer spending is growing in India because of economic prosperity."
 
On the defence side, Aghi said that if India became more prosperous, it would spend more money on defence.
 
"If you look at the last three years, the procurement with India has gone up to $15 billion," he said.
 
"We are talking Make in India also from the manufacturing perspective of defence equipment. So, I think those principles are driving this relationship."
 
On the current business environment in India, Aghi referred to the World Bank's Ease of Doing Business rankings which saw India jumping from the 130th rank to 100th.
 
"When this government came in 2014, India's ranking was 142. And now it has come to 100. I think that is a positive sign and we will keep on urging the government to go to below 50. That should be the ambition," he stated.
 
About the economic reforms being undertaken by the Indian government, he said these have been certified by credit rating agency Moody's, which has upgraded India's sovereign rating to Baa2 from its lowest investment grade of Baa after 14 long years.
 
"What the government is doing is the right stuff -- which seems to send a strong message to investors also. Moody's ranking is a positive sign, very positive," he said.
 
On what were the key takeaways for USISPF from this year's GES, which was held on the theme "Women First, Priority for All", Aghi said: "I think the number one takeaway is that start-ups and entrepreneurship are important for job creation. That's what India needs".
 
He also stressed on the involvement and engagement of women entrepreneurs and women workers for the growth of GDP and economy. 
 
"You know, a McKinsey report shows that by 2025, if you engage more women workers, it will have an impact of $12 trillion on the global economy," the USISPF president said.
 
 
 
 
Print
Share
  
increase Font size decrease Font size
 

Disclaimer: South Asia Monitor does not accept responsibility for the views or ideology expressed in any article, signed or unsigned, which appears on its site. What it does accept is responsibility for giving it a chance to appear and enter the public discourse.
Comments (Total Comments 0) Post Comments Post Comment
Review
 
 
 
 
spotlight image Thailand will be the coordinating country for India within ASEAN from July. In an exclusive interview with INDIA REVIEW & ANALYSIS, the fortnightly journal of the Society for Policy Studies (SPS),  Thailand’s Ambassador to India, Chutintorn Gongsakdi, gave a comprehensive view of bilateral relations and
 
read-more
The struggle for autonomy has been going on within the Indian Institutes of Management (IIMs) from their inception, writes P.D. Rai
 
read-more
As India and the 10-nation ASEAN bloc culminate the commemoration of 25 years of their dialogue partnership with a summit in New Delhi January 25 that all the leaders will attend, India is laying out the crimson carpet to ensure that the first ever Republic Day celebrations at which 10 ASEAN leaders will be Chief Guests, jointly, is a
 
read-more
At a high-level Security Council meeting, Pakistan has raised the case of Kulbhushan Jadhav, whom Islamabad has accused of being an Indian spy and given him a death sentence. “Those who speak of changing mindsets (about terrorism) need to look within and their own record of subversion against my country as our capture of an India
 
read-more
The long range surface-to-surface ballistic missile, Agni-5, was successfully flight tested for its full range on January 18, 2018 from Dr Abdul Kalam Island, Odisha. This was the fifth test of the missile and the third consecutive one from a canister on a road mobile launcher. All the five missions have been successful.
 
read-more
“We have a very solid commitment to climate action,” he said. “We cannot be defeated by climate change and we are not yet winning this battle” and the biggest victims of climate change are the developing countries that are members of the Group of 77 (G77).
 
read-more
In a bid to promote trilateral innovation and business opportunities between the US, India, and Israel, Israel-India Technology Group has launched a trilateral fund of $50 million. "We ar...
 
read-more
Column-image

The Tehreek-e-Taliban Pakistan (TTP) has for the first time claimed responsibility for the assassination of former Pakistani Prime Minister Benazir Bhutto in a new book in written by Taliban leader Abu Mansoor Asim Mufti Noor Wali.

 
Column-image

Title: Salafi-Jihadism -The History of an Idea; Author: Shiraz Maher; Publisher: Penguin Random House UK: Pages: 292; Price: Rs 499

 
Column-image

A Review of Anatomy of Failure by Harlan K. Ullman (Naval Institute Press, 242 pages)

 
Column-image

Title: The Beckoning Isle; Author: Abhay Narayan Sapru; Publisher: Wisdom Tree; Pages: 157; Price: Rs 245

 
Column-image

Title: India Now And In Transition; Editor: Atul Thakur ; Publisher: Niyogi Books: Pages: 448; Price: Rs 599