Goyal invites US industries to work in India
India is ready to sign a limited trade package to address issues of a trade agreement with the United States, said Commerce and Industry Minister Piyush Goyal, adding “it is up to the US to move ahead.”
Goyal also called for taking the Indo-US trade to greater heights, pointing out that the two nations can be resilient and trusted partners in the global value chain.
The Commerce and Industry Minister has invited US business and industry to work with their Indian counterparts to take the bilateral trade to greater heights.
Addressing the US-India Strategic Partnership Forum (USISPF) at a virtual conference on 1 Sept 2020, Goyal said that the two democracies share a deep commitment with each other, at the Government, Business and people to people levels.
Both countries believe in free and fair trade, and the US is India’s largest trading partner.
Goyal outlined to the members of USISPF about the steps being undertaken in Indian to facilitate industry and investments.
He said that GIS-enabled land bank has been launched on pilot basis, with six states on board, which will help the investors in identifying the land and location.
The Minister also mentioned the single-window system for clearances, which is being developed in cooperation with various approving authorities and agencies at the Central, State and Municipal levels.
Goyal acknowledged that the road ahead has challenges but also a number of opportunities.
He said that economic activity in the country had suffered due to pandemic but there have been indications of sharp revivals.
He expressed the confidence that India will emerge victorious from the COVID-19 pandemic, make up for the lost time, and will be back on track to achieve US$5 trillion economy in the next 5 years, and bring prosperity to 1.3 billion people of India. #exports #trade #imports #manufacturing #investment /fiinews.com
