Release of ‘India at $5 Trillion: Strengthening Opportunities, Removing Hurdles’ – 20th February 2020
On February 20th, AMCHAM and Observer Research Foundation (ORF) released the first study on U.S. industry before President Trump’s visit to India. The study ‘India at $5 Trillion: Strengthening Opportunities, Removing Hurdles’ was based on interactions with AMCHAM members and has examined the investment potential and market opportunities that India’s growth offers, opportunities for U.S. companies as a business partner in India’s growth and hurdles U.S. companies face while doing business in India.
The study was officially released by Mr. Hardeep Singh Puri, Minister of State (Independent Charge) of Civil Aviation, Housing and Urban Affairs, Minister of State for Commerce and Industry, Government of India. Welcome remarks were made by Ms. Tanushree Chandra, Junior Fellow – Economy and Growth Programme, ORF. Ms. Ranjana Khanna, Director General CEO, AMCHAM, provided background to the study and highlighted how U.S. companies have partnered in India’s growth story in her opening remarks. Mr. Gautam Chikermane, Vice President, ORF, in his remarks, outlined five key pillars to the U.S.-India partnership to be values, capitalism, markets, strategy and defense.
Minister Puri, in his address, gave an overview and history of the U.S.-India partnership. He said that the report was a testimony that the business environment in India is positive and was enthusiastic that India could be a $10 trillion economy by 2030. He highlighted many government initiatives that illustrated India’s growth at a rapid speed and touched upon challenges that affect the ease of doing business in India, as mentioned in the report.