10 January , 2023 Fdiindia
Piyush Goyal Requests US to Put Some Faith in India’s Potential to Be a Trusted Partner and a Hub of Opportunities.
According to Commerce and Industry Minister Piyush Goyal, India is a hub of opportunities and has the potential to be a trusted partner for global and American corporates in their supply chains and investment portfolios.
He exhibited a lot of confidence on Sunday on the matter regarding the growth of the nation to be the third largest economy in the world, as the driving factor for future growth lies in transformational reforms and the population of the youth.
Goyal said, “I would urge all of you to take this message to the world, to the Americans and American corporations and to the sphere of influence that each one of you has that India is the place to be, India can be your trusted partner in your supply chains, in your investment portfolio, in your business”.
He was addressing the diaspora and members of the Indian-American community in Edison, New Jersey.
Goyal in the US.
Goyal reached New York on Sunday for an official visit till January 11th during which he will also travel to Washington DC.
He will communicate with the CEOs of multinational enterprises, join roundtable meetings with business leaders and think tanks and visit industries in New York.
His presence will be there at the 13th Trade Policy Forum (TPF) meeting in Washington DC on January 11th and he will attend a meeting with US Trade Representative Ambassador Katherine Tai.
While addressing a community reception which was also attended by the Consul General of India in New York ahead of the Pravasi Bhartiya Diwas, Goyal said that America has given the diaspora a lot, “I am sure, each one of you has given back to the US manifold”. “Today, India beckons your contribution to make India a great superpower”.
Plea to the diaspora
He said that he was confident regarding the contribution of diaspora on taking India back to its old glory when the nation was one of the largest contributors in global economy. “I think it is time we got that glory back in our nation”. Highlighting that India quickly rebounded after the lockdown induced by the pandemic, he said that last year was a record year in terms of holistic growth including our international engagement.
He said that Indian exports crossed $670 billion for the first time ever and foreign direct investment (FDI) was also at an all-time high, with almost $84 billion FDI inflows in 2021-2022.
He said that Indian investments get the highest ROI. He referred to a study in his citation to make the point that over a time period of 20 years, nearly one out of the four companies on the top 500 companies on the Indian Stock Exchange have given a 20 percent plus compounded return to investors.
South Korea Registering Higher Trade Volume than Japan in India Year after Year
Rise in FDI Inflows Expected by the Government in the Coming Months