The promise of 'acche din' seems to be turning investor interest to India. A delegation from the United States - India business council (USIBC) led by Ajay Banga of MasterCard met commerce minister Nirmala Sitharaman today.
The promise of 'acche din' seems to be turning investor interest to India. A delegation from the United States - India business council (USIBC) led by Ajay Banga of MasterCard met commerce minister Nirmala Sitharaman today. In an interview with CNBC-TV18, Banga discusses the current investment climate.
Excerpts from the interview:
Q: What do you think is the current investment climate across?
A: We are here to understand all the good things that are happening with the new government. It is a way of being able to establish a new relationship with the new government; that's all we are doing.
Q: USIBC members have had very strong reservations regarding policies like retro tax. Do you believe that since a new administration is there, this is the time to do away with such points?
A: Well I am just reading all the newspaper articles with the new government and lot of them are talking about improving the ease of doing business in India. That's the right kind of tonality. They have only been in power for 30 days; we got to give them a little time to think through all the priorities. I am certain that they are approaching it with an open mind.
Q: Narendra Modi will be visiting the States shortly, probably after the Budget session. According to you what are the top priorities as far as India-US economic and trade relations are concerned which should find mention in the agenda as far as US and India are concerned?
A: My view is that US and India basically operate well together on business fronts. It's always been the case that the business community has built the link between the two. What the business community is looking for on both sides is predictability and consistency.
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