Finance Minister of India, Nirmala Sitharaman has welcomed US Companies investment and their partnership with India, specifically in the manufacturing and infrastructure sectors, during a virtual session held for the US-India Strategic Partnership Forum’s (USISPF) of its 3rd Annual Leadership Summit.
USISPF released the statement depicting that the finance minister’s discussion with the Board members aimed on ease of doing business in India; digitization & fintech; agriculture (including agricultural infrastructure) and private sector involvement across all the areas of the Indian economy. Other major segments like Skill development; healthcare; COVID-19 mitigating measures undertaken by the government & future action plans; major role of government spending in the infrastructure sector in future; and manufacturing (with a special emphasis on the logistics sector in India) were also discussed during the virtual session.
From a long time, India continues to be a leading investment destination for the US organizations to attract investments over $20 billion in 2020. The US and India are prominent strategic partners in various fields including the economic and financial sectors. The US-India economic and financial alliance is based on the pillars of development for both nations that include robust capital flows, and economic cooperation on the pivotal issue, the statement added.
USISPF President & CEO, Dr. Mukesh Aghi said, “We believe investments from US companies will create new jobs, facilitate financial inclusion, and broad-based economic development for the Indian economy. It is encouraging to hear the Honorable Finance Minister’s commitment to provide a red-carpet welcome for long-term US investments in the Indian market.”
Numerous renowned dignitaries attended the session including USISPF Chairman John Chambers; Ajay Banga, CEO, Mastercard; Charles Kaye, CEO, Warburg Pincus; Anish Shah, Deputy Managing Director & Group CFO, Mahindra; Jim Umpleby, Chairman & CEO, Caterpillar among other Fortune 500 leaders.