Indian Prime Minister Narendra Modi attended the meeting with CEOs of top 20 American firms in Washington during his two day stop at the US. During the meeting Modi and the CEOs discussed about benefits of investing in India.
Modi arrived in US on 25 June and was warmly welcomed by the Indian-Americans with a number of events organised for the PM. He is scheduled to meet the US President Donald Trump on 26 June. Modi told the CEOs that India is emerging as the business-friendly destination and the best time to invest in India is now. With GST implementing from next month, Modi pointed out that as a result of policies taken up by the Indian government in the past three years it has attracted the largest amount of foreign direct investment (FDI).
Narendra Modi said that the motto of Indian government is ‘Minimum Government, Maximum Governance’, efficiency, transparency, growth and benefit for all. He boasted that India has taken around 7000 reform initiatives for ease of (doing) business and that it will be total profitable deal if the American companies invest in India. He further added that, if America becomes stronger, India will be a natural beneficiary and it will be a win-win partnership for both India and US.
Modi also touched upon the topic of implementation of GST from next month saying that it will be complex procedure and can be included in the syllabus of Business schools in US. He also suggested that the US companies could invest in tourism through developing hotels in “PPP (public private partnership) model” at 500 railway stations. He said that Indian government is focusing of the overall development of the people and is working towards the betterment of the people and this initiative needs global help and global partnership.
While concluding Modi said spoke about the importance of cooperation 4 start up, innovation and tapping huge intellectual, education and vocational training potential in India.
Tim Cook of Apple, Sunder Pichai from Google, John Chambers from Cisco and Jeff Bezos of Amazon, the US-India Business Council (USIBC) president Mukesh Aghi, Shantanu Narayen from Adobe, Ajay Banga from Mastercard, David Farr from Emerson, Doug McMillon from Walmart, Punit Renjen from Deloitte Global, Jim Umpleby from Caterpillar, Alex Gorsky from Johnson and Johnson, Jamie Dimon from J P Morgan Chase, and Marillyn Hewson from Lockheed Martin were present for the meeting.
“Interacted with top CEOs. We held extensive discussions on opportunities in India,” Modi tweeted after the meeting concluded.
Interacted with top CEOs. We held extensive discussions on opportunities in India. pic.twitter.com/BwjdFM1DaZ
— Narendra Modi (@narendramodi) June 25, 2017
During the meeting the CEOs also applauded the Modi government and initiatives taken by it. They appreciated the decisions taken by Modi regarding demonetisation and digitisation of economy and the GST. The CEOs are excited about the opportunities available for investment in India and especially extended their interest in ‘Make in India’, ‘Digital India’, ‘Start Up India’ and other flagship initiatives of the Indian Government.
“CEOs applaud reform measures and steps taken by the government to improve ease of doing business,” Gopal Bagley, spokesman of the Ministry of External Affairs tweeted.
CEOs applaud reform measures and steps taken by the government to improve ease of doing business.
— Randhir Jaiswal (@MEAIndia) June 25, 2017
Sunder Pichai from Google said that the US companies are looking forward to the roll out of the GST and are excited about the investment opportunities India is providing. Tim Cook of Apple said that the meeting was good. The US-India Business Council (USIBC) president Mukesh Aghi said the CEOs praised the reforms being undertaken by the Prime Minister and the initiative of doing business in India easily. “Today, as we witness a paradigm shift in the erstwhile global order, an opportunity has emerged for both countries to set new standards in bilateral ties that will be bound by their shared values,” USIBC. Jagdip Ahluwalia, executive director of Indo American Chamber of Commerce of Greater Houston, said the United States and India share a very symbiotic relationship.
Posting a picture of the prime minister with the CEOs on Twitter, Bagley said, “strengthening the Indo-US economic partnership”.
Strengthening the #IndoUS economic partnership. PM @narendramodi with 21 leading CEOs before the start of the CEOs roundtable pic.twitter.com/yWGeGJzz0W
— Randhir Jaiswal (@MEAIndia) June 25, 2017