‘Visionary’ Narendra Modi Removing Trade Barriers: US
The US has described Prime Minister Narendra Modi as a “visionary” leader. Taking forward his vision, the new Indian government is taking “concrete” steps to remove trade barriers and facilitate American investment in the country.
A senior US State Department official illustrates further this point through these words: “I think it’s clear to everybody that the Prime Minister is a visionary leader, and it’s so exciting when you think about the prospects that we have here for business, which is already dynamic”.
“He (Modi) is now taking barriers away that can allow that to really flourish, both here in India for Indian businesses, but those decisions that he’s making and his government is making to make the business climate better for Indian businesses are also going to help US businesses, ”commented the official, in Ahmedabad while on a tour with the Secretary of State John Kerry.
According to the official, these steps will help India achieve its rightful place in the global supply chain which has been the keynotes in the “Make in India” campaign.
The official also noted that “They’re going to help India take its place in the global supply chain, which we all understand is something that one doesn’t make everything in one place anymore”
“And so you have to be part of that whole chain, and I think that’s clearly recognized by the ‘Make in India’ campaign”.
The State Department functionary said that a lot required to be done despite the concrete steps that have been taken. The senior executive listed out steps taken by the Indian government so far in this regard; FDI in investment, defense, and medical equipment; land reforms ordinance, goods, and services tax.
“Some of the concrete steps that have been taken, including liberalizing the ability for investment in insurance, defense, and medical equipment; announcing land reforms, announcing and moving forward on the goods and services tax; as well as eliminating red tape, which we hear from our companies is actually occurring, and obviously there’s more to do there,” the official elaborated further.
The official explains the way forward in his words: “In addition to that, there has been laid out a whole plan on energy for the future and what’s going to happen there, as well as resolving the lingering issues over the WTO trade facilitation agreement, which is really about moving goods across the border in an efficient way, which is also about the global supply chain because you’ve got to have inputs and you’ve got to be able to move your stuff out in order to be part of the global supply chain”.
According to him, therefore, a lot has happened inside India in the last days. There has been an increment in the bilaterally talks between the US and India. Both countries have revived their discussions on various concrete and substantive areas. “So there’s the trade policy working group, there is a group on telecom and Internet that’s meeting this week now in Washington, there’s going to be a dialogue on intellectual property, there are numerous discussions going on energy. Some of these things are meeting who haven’t met for many years,” the official added, maintain his anonymity.