American Chamber of Commerce-India congratulates Modi

“The American Chamber is indeed looking forward to resurgence in India’s economic landscape and rapid improvement in the investment climate in the country,” the Executive Director, Amcham India, Ajay P Singha, stated. 

Amcham has had regular contacts with BJP and with Narendra Modi in the recent past. A

mcham delegations comprising of CEOs of US companies in India have met  Modi in 2011 and 2012 in Ahmedabad. Subsequently in 2013 an Amcham delegation comprising of CEOs of US companies met Nitin Gadkari, the then President of BJP, in Mumbai as well as in New Delhi. The meeting took place in conjunction with the IT Cell of BJP and was presided over by its Co-Convenor,  Vinit Goenka.

A working group comprising Goenka and senior representatives of US companies in India addressed several concerns impacting US investments in India. The working group identified issues which could be successfully addressed by decision makers in various sectors ranging from IT, Energy, Defence, Aviation, Food Processing, Agriculture, Healthcare and Financial Services.

There was general agreement on most issues specially related to simplifying taxation, bringing in more transparency in government contracts and creating a conducive investment climate.

Amcham recently brought out a document articulating the “Challenges faced by US companies in India.”

Advance copies were shared with the BJP leadership.  “We are confident that our genuine concerns will receive an excellent response from the new government to help us address the challenges faced by US companies operating in India,” stated Singha.

“Amcham is looking forward to working closely and strengthening the hands of the various ministries and departments in the Government of India to bring about the desired economic reforms and robust growth rates essential for showcasing India as the most desired nation for foreign investments,” he added. 

Earlier U S President Barack Obama had called on and congratulated PM designate Narendra Modi on his historic and landslide election victory. Both the leaders discussed Indo-US strategic partnership and the prevailing global economic situation. President Obama stated that under Modi's leadership India will contribute at the global stage.

Meanwhile, Secretary of State John Kerry has also tweeted: "Congrats to @narendramodi and BJP. Look forward to working w/you/growing shared prosperity/security w/world's largest democracy."

At a recent meeting of the Amcham India, the US Ambassador to India, Nancy J Powell, had stated that there is a potential for US- India bilateral trade in goods and services to be increased from its current level of nearly $100 billion to an ambitious goal of $500 billion.

“One possibility might be the convening of a Track 1.5 event during the first 100 days of the new Indian government to begin a conversation on how we can best accomplish this task," Powel said. 

The Ambassador had mentioned that there are remarkable opportunities to rapidly expand U.S.-India trade in sectors such as civil aviation; defense; infrastructure; energy; healthcare; IT services; and, agriculture.