“The current relationship is driven by twin congruences of shared values and aligned interests, which is a guarantee for long sustainability and robustness of ties,” he said.
Describing India and the US as natural partners, Defence Minister Rajnath Singh on Tuesday said the two countries must move forward together in both business and strategic sectors amid the current global geopolitical scenario.
“India and the US support a free, open and rules-based international order. Due to this, there is a lot of alignment in our strategic interests. Besides, our economic relationship is a win-win proposition for both the countries. The current relationship is driven by twin congruences of shared values and aligned interests, which is a guarantee for long sustainability and robustness of ties,” he said.
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The capital and technological know-how from the US can help India to achieve its goal of becoming a developed country by 2047, while investments in India can give American companies high returns and an avenue of de-risking, Mr Singh said while addressing a conference on ‘Strengthening Indo-US Relationship in Amrit Kaal – Aatmanirbhar Bharat’, organised by the Indo-American Chamber of Commerce (IACC).
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The minister asserted that the government has laid the groundwork for a strong and self-reliant ‘New India’, and the American investments can play a vital role in realising Prime Minister Narendra Modi’s vision of ‘Viksit Bharat’.
Terming it as a win-win situation for both the countries, he stated that India’s fast-growing economy, its demographic dividend, skilled workforce, and huge domestic market guarantee high returns to US companies.
Describing Indo-US ties as a ‘multiplicative relationship’, US Ambassador to India Eric Garcetti said the US wants more of its investments to flow into India.
Speaking at the conference, he pitched for easier corporate tax practices and relaxations of other barriers for companies to invest in India. “We also have to see that opaque corporate tax practices still are a barrier to too many companies that want to be here. And this is a great moment for all of you to recruit our companies. Every CEO is saying: tell me about India. They want to invest,” he said.
Noting that he would want foreign direct investments to shift from China to India, he, however, added that the flow of FDI into India is not at par with its potential currently and several companies are looking more towards Southeast Asian countries.
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