Newdelhi:6/9/22:The Union Minister of Commerce and Industry, Consumer Affairs, Food, and Public Distribution and Textiles, Shri Piyush Goyal has said that India today provides the best investment opportunity to investors across the world and called upon investors in the US to avail of the opportunities that India offers stressing that the next 25 years, the golden period of Amrit Kaal is the appropriate time to invest in India. He said this while addressing the US India Strategic Partnership Forum (USISPF) in San Francisco.
Speaking on India-US relations, Shri Goyal said the partnership between India-US partnership is a ‘Partnership of Trust’, which rests on the 3Ts of Trade, Technology, and Talent. He noted that India-US relations are based on strong government-to-government engagement, people-to-people ties, large Indian diaspora, business-to-business relations, increasing bilateral trade, deep engagement in geopolitically relevant vibrant Quad, Ministerial Dialogue, IPEF, and robust trade policy forum. Reaffirming India’s commitment to working closely in areas of mutual interest, Shri Goyal said the focus is on further expanding the India-US relationship.
Recognizing that India and the US are natural partners in terms of competitive advantages and opportunities they offer to each other, Shri Goyal spoke about the talent that India has provided to the US and the investment that the US has provided to India. He asked US investors to share newer ideas, and suggestions on taking India-US relations to the next level. Noting that both countries share a tremendous interest in a world that is peaceful, open to business, and believes in democracy, trand transparency, Shri Goyal asserted that the two countries can work collectively to promote global security, stability, and resilient supply chains, nd a growing economy.
Stating that India’s credibility has strengthened across the world in the last few years, Shri Goyal
mentioned that we have taken transformative reforms and structurally prepared the economy for a higher degree of honest business, recognizing and respecting integrity in business processes, reducing compliance burden, decriminalization of laws, respecting and trusting and honesty of business persons.
Highlighting that India is a much more open economy now, Shri Goyal pointed out that India is opening up discussions with countries on subjects that were never taken up before such as gender, environment, small and medium enterprises, labor, and anti-corruption laws. We are committed to providing growth opportunities both for domestic and foreign investors, he added.
In his speech, Shri Goyal highlighted the fact that lots of innovation is taking place in different fields and new areas are opening up in India such as Artificial Intelligence, Big Data, E-Commerce, Edutech, Fintech, Agritech, and Healthtech. He sought suggestions and ideas to explore the engagement further in areas around textiles, geotextiles, and technology for testing labs.