Union Commerce and Industry and Railways Minister Piyush Goyal has invited American businesses to look at India as their next investment destination.
Addressing the India Chamber of Commerce USA’s Summit on Global Financial and investment Leadership on Wednesday, he said that both had a bright future for the shared prosperity of the people of the US and India.
“Potential between the US and India is boundless. We can make rapid strides to provide a trusted source to American businesses to work with a country which is transparent. The bilateral trade between the US and India grew from $126 billion dollars in 2017 to $145 dollars in 2019. The target we have set of $500 billion dollars in the next five years is eminently doable.
“We have insolvency laws in place. India’s corporate tax is amongst the lowest in the world. My own Ministry is working at ‘plug and play’ and cluster development. We are looking at a genuine single-window system which makes it easy for companies and businesses to work in India. We are focusing on improved infrastructure. We promise faster registration, easier availability of infrastructure,” the Minister said.