|
|
|
Goyal invites US firms to manufacture in India
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 18 Feb, 2021
Commerce and Industry Minister Piyush Goyal has called upon companies in the US to look at India as a manufacturing base.
Delivering
the inaugural virtual address at the annual conference of USIBC State
of US-India Business, he said that trade between India and the US has
grown exponentially, but there is a lot more to be desired.
Goyal said that the US and India complement each other.
He said that the US offers technology, finance and innovation, whereas India has a large market that needs to be served.
The
minister, however, said that at the same time, there is a need to
protect people in agriculture and protect the citizens from low quality
products.
Emphasising at a fair dealing in their engagement, he
said that India provides an under-served aspirational market. The
minister said that the US will have to be very sensitive to price points
in India, which matter to emerging economies with millions of people
just coming out of poverty.
Inviting businesses in the US to look
at India as a manufacturing base, Goyal said that from here, they can
serve a large Indian market and at the same time, also serve global
markets through cost-competitive products.
He said that their
reforms in defence, mining, labour and agriculture sector will open up
new opportunities for the American companies.
Goyal said that the
government is keen to expand on the digital space with the US. He added
that they would be conscious of their responsibility to the people of
India for data privacy.
"There are a lot of concerns with the big tech companies, and India would like to protect its policy space," he said.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|