US businesses invited to invest in India

15 October 2020: India Chamber of Commerce USA’s Summit on “Global Financial & Investment Leadership” was virtually held on 7th October 2020. Addressing the participants, the Union Commerce & Industry and Railways Minister Piyush Goyal invited American businesses to be a part of Prime Minister’s vision, and look at India as their next investment destination. “Let’s work together in the spirit of oneness. Let’s engage with each other & I am sure we have a bright future for the shared prosperity of the people of the US & India,” the Minister said.

He said that the potential between the US & India is boundless. “The bilateral trade between US & India grew from $126 billion dollars in 2017 to $145 dollars in 2019. The target we have set of $500 billion dollars in the next 5 years is eminently doable.”

Describing the reforms being undertaken in the country, Goyal said “We are looking at logistics reform to bring down the cost of logistics. We are doing several tax reforms. My own Ministry is working at ‘plug & play’ & cluster development. We are looking at a genuine single-window system which makes it easy for companies & businesses to work in India. We promise faster registration, easier availability of infrastructure.”