U.S. Commerce Secretary Penny Pritzker has expressed her eagerness to support and partner with India to bolster mutual economic ties at an event in Mumbai.
Pritzker, who arrived in India on Wednesday, attended the interactive session with industry officials that was organised by the Confederation of Indian Industry (CII).
Pritzker emphasised that throughout the visit, she and her team will continue to emphasise on strategic dialogue, which is a mechanism to reinvigorate, re-energize and strengthen the U.S.-India economic relationship.
While addressing the interactive session, she said the Unites States is ready to share their best practices and create a business climate in India that is more open for global INVESTMENT.
“The United States has a vested interest in seeing India succeed, in seeing this nation reach its full economic potential and we want to be an essential partner in meeting your goals,” said Pritzker.
She added that two-way TRADE between India and America has grown more than five-fold since 2000 to USD 96 billion, supporting about 45,000 jobs.
“American companies have invested over 28 billion dollars in India. And Indian INVESTMENT in United States has reached nearly nine billion dollars. Building on this firm foundation we know that there is ample room for expansive growth. The purpose of my visit in Mumbai and at the strategic dialogue in New Delhi is to open up new avenues that can help reinvigorate and deepen the economic ties between U.S. and India,” added Pritzker.
Pritzker also said she believes that businesses can act as key bridges between the two nations and their economies and they can be the cornerstones of friendship and sources of strength for the U.S.-India relationship.
Owing to her association with Indian partnerships during her career with the private sector, Pritzker said she completely understands the huge important of business connections.
According to Pritzker, developing infrastructure, improving manufacturing and encouraging government to create a business climate that is more open to global investments are the three key areas that U.S. would like to focus on for its initial efforts while stating that these objectives are in line with the priorities set by the new government led by Indian Prime minister, Narendra Modi.
Pritzker assured that the U.S. is willing to support India by sharing its best practices and all possible knowledge and expertise to succeed in these areas.
She expressed optimism that the bilateral TRADE between India and the U.S. that currently stands at USD 96 billion has the potential to grow in multiples.
She urged Indian business leaders to come forward and take the lead for the same.
The U.S. is India’s second largest TRADING partner, and India ranks 11th in USA’s list of trading nations.
…………ANI