India is back on the commercial map of the United States after being ignored for the past few years, according to Sidharth Birla, president, Federation of Indian Chambers of Commerce and Industry (FICCI).
Birla is optimistic that Prime Minister Narendra Modi’s visit to the US will attract major US companies to invest in India. A week after Modi’s visit, union finance and defence minister, Arun Jaitley is also set to tour the US.
“FICCI will be organising two standalone events where we will invite top US business houses,” said Birla.
He said the industry body was hopeful that the finance minister would be find time to address the US and Indian business leaders. Later, FICCI also plans to organise a meeting of Indian business leaders in London with institutional forum, American Investors.
Jaitley is likely to address the meeting. “Business-to-business connect in America always follows a political comfort. The areas that could see an upturn can be infrastructure, manufacturing, and defence,” said Birla.
Birla described the Prime Minister’s ‘Make in India’ campaign as a window of opportunity that foreign and Indian businesses will not miss.
At the same time, he called for requisite policy and implementation measures for enhancing the competitiveness of the manufacturing sector in the country.