Modi visit to US to take India-America ties to new scale India Inc

India Inc is very optimistic about the ensuing visit of Prime Minister Narendra Modi with an impressive 77 per cent of corporate heads and senior management expecting tangible results from the much-awaited PM’s meetings with President Barack Obama taking the India- US economic engagement to a further scale from a sizeable level of about USD 150 billion a year, an ASSOCHAM survey has said. The ASSOCHAM survey covered interaction with 261 corporate heads in the second-third week of September, ahead of the Prime Minister’s visit to the US.

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. As many as 67 per cent of the respondents in the ASSOCHAM survey said they would expect the Obama-Modi personal chemistry to be a high point of the forthcoming visit.  “In fact, 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 Mr D S Rawat said.

Popular Posts

Followers

 
Top