Indian firms can find opportunities in Trump's infrastructure plans
Indian companies can find opportunities in US President Donald Trump's massive $1 trillion plan for infrastructure development, according to Commerce Secretary Rita Teaotia.
There was optimism in the new administration for the growth of trade and investment, she told reporters after meetings with senior US official during her visit here with Foreign Secretary S. Jaishankar to scope out the new Washington power structure and to present India's perspectives.
Teaotia met with Commerce Secretary Wilbur Ross, who has had investments in India and was a member of the Chairman's Circle of the US-India Business Council.
She said that India's pro-growth policies and the accelerated pace of reforms was appreciated and the administration noted that trade with India has been growing at nine percent every year.
There was now a sense of ease of doing business in India and US companies that have invested there have had good results, she said.
Indian measures in areas of protection of intellectual property rights and dispute resolution have further strengthened the case for investments in India, she said.
Investments have not been a one-way street and Indian companies have also invested in the US in manufacturing, chemicals and technology, she said. And more opportunities were being created for them.
Jaishankar said that there was no contradiction between India's 'Make in India' policy and Trump's 'Buy American'. Every country has its own interests, he added.
If there was more robust growth in the US, it would also work to the advantage of India and produce more opportunities for it, he said.