Mumbai: Hailing the trade relations between India and US, Prime Minister, Narendra Modi highlighted the successful investments and economic development of India at the India-US Business Summit in Delhi on January 26. The business sentiments in India are the strongest among Asian markets, said PM Modi with pride.
The additional investments is inclusive of USD 1 billion for financing exports from US to aid Make-in-India programme a similar amount for small and medium industries and USD 2 billion in renewable energy projects.
Investments in infrastructure will be the first sector which will boost the economic growth of India, said PM Modi. ‘We have the energy of our youth, enterprise of our business and genius of farmers. I am confident that India brings positive outcomes from our 'ease of Business' initiative’, added Modi. Talking about the economic relationship between India and US President Obama said that the fortunes of both countries are inextricably linked. Obama also revealed that US does $100 billion trade with India but $560 billion with China.
Narendra Modi said that not only the US is investing in India, but also but Indians are investing in the US. He also claims that India will be an important anchor of stability for global economy. US President, Barack Obama also announced the $4 billion investment in Indian business and lending deals.
‘India has collaborated in space and partnered in setting up IITs and IIMs, we helped shape the digital age’. OPEC will support lending to small and medium businesses across India over $1 billion. In the past eight months, the Indian government has worked tirelessly towards the development of economic growth, but also aims to improve the quality of life in India. ‘Our ambition of a clean Ganga involves 500 million people, 100 of towns and thousands of villages’, highlighted PM Modi.
US President Barack Obama, also agreed that growth cannot just be measured by GDP, it has to make people’s life better in more tangible and lasting ways. India has collaborated in space and partnered in setting up IITs and IIMs, we helped shape the digital age. ‘India sees the world as one family, and we wish to share our values, added more.
In response to the strong business environment, Barack Obama also highlighted that the economic growth of both countries is inclusive and sustained.
