U.S. intense to invest in 3 key areas
Going by the priorities of the new government, the United States has decided to focus on three areas in India which include infrastructure, manufacturing and sectors that are more open for global investment, said Penny Pritzker, Secretary of Commerce, U.S. Department of Commerce, at an interactive session organised by Confederation of Indian Industry (CII) here on Wednesday.
“We know that India’s new government is committed to an agenda of accelerating growth, attracting investment, generating good-paying jobs, and ushering in a new era of global co-operation and economic dynamism. 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,” Ms. Pritzker told Indian industrialists.
With India likely to spend $1.7 trillion by 2020 to develop infrastructure, the U.S. is seeing greater opportunity to participate.
As far as manufacturing is concerned, Ms. Pritzker said the U.S. Department of Commerce could offer a model for progress in this field.
“We are ready to share our best practices with all of you,” she said.
She said U.S. would like to create a business climate in India that was more open for global investment.
Bilateral trade between the two countries now stands at more than $96 billion.