India Inc expects tangible outcomes from Modi’s visit to US
22/09/2014 11:18
Ahead of Prime Minister Narendra Modi’s three-day visit to the US, India Inc is very optimistic and expects the meeting to take India- US economic engagement to a further scale from a sizeable level of about USD 150 billion a year, an ASSOCHAM survey has said. With the US accounting for over 60 per cent of India's software exports of USD 100 billion and the merchandise exports and imports totaling about USD 62 billion..along with the two-way foreign direct investment and the portfolio, the India-US annual commercial engagement is well above USD 150 billion. With these cumulative figures, the US is India’s largest economic partner holding a greater potential for further scale-up, added the study. The ASSOCHAM survey covered interaction with 261 corporate heads in the second-third week of September, ahead of the Prime Ministers visit to the US. India Inc expects this very chemistry to then reflect on a whole range of issues which confront the India-US economic engagement, be it divergent views in WTO, issues on visas for IT professionals, non-tariff barriers from the Indian side or national treatment demand by the US on solar equipment in India or opening of the retail and financial sector ASSOCHAM Secretary General D S Rawat said. Rawat said the way Modi has gone about building bridges with the Chinese President Xi Jinping and a personal chemistry with the Japanese Prime Minister Shinzo Abe clearly points to his capabilities for striking similar friendship with President Obama. Between China and Japan, the Prime Minister has already received commitment of investment of USD 55 billion from them.
22/09/2014 11:18
Ahead of Prime Minister Narendra Modi’s three-day visit to the US, India Inc is very optimistic and expects the meeting to take India- US economic engagement to a further scale from a sizeable level of about USD 150 billion a year, an ASSOCHAM survey has said. With the US accounting for over 60 per cent of India's software exports of USD 100 billion and the merchandise exports and imports totaling about USD 62 billion..along with the two-way foreign direct investment and the portfolio, the India-US annual commercial engagement is well above USD 150 billion. With these cumulative figures, the US is India’s largest economic partner holding a greater potential for further scale-up, added the study. The ASSOCHAM survey covered interaction with 261 corporate heads in the second-third week of September, ahead of the Prime Ministers visit to the US. India Inc expects this very chemistry to then reflect on a whole range of issues which confront the India-US economic engagement, be it divergent views in WTO, issues on visas for IT professionals, non-tariff barriers from the Indian side or national treatment demand by the US on solar equipment in India or opening of the retail and financial sector ASSOCHAM Secretary General D S Rawat said. Rawat said the way Modi has gone about building bridges with the Chinese President Xi Jinping and a personal chemistry with the Japanese Prime Minister Shinzo Abe clearly points to his capabilities for striking similar friendship with President Obama. Between China and Japan, the Prime Minister has already received commitment of investment of USD 55 billion from them.
