Indian PM Looks to America for Investment
The Indian Prime Minister Narendra Modi is in America at the moment looking to secure further investment and trade between the two countries as India starts to kick on economically.
Mr Nodi came to power on a promise to make India economically stronger and trade deals with China, Britain, Japan and other countries have seen massive investment in railways, infrastructure, defence, energy and various other sectors that seem to be pushing the country well on its way to that target but now Mr Modi has turned to America to secure mutually beneficial trade links between the two.
America is India’s largest trading partner and both countries see great economic boosts from this partnership but Mr Modi’s visit to the country could signal greater ties as his itinerary sees him hobnobbing with both political heavyweights and business leaders. It is telling that Mr Modi is visiting President Obama twice during his visit as well as the Secretary of Defence which could see military spending by both nations.
Mr Modi is also due to meet the bosses of some of America’s biggest companies including Google, General Electric, Goldman Sachs and Boeing in a move that is largely seen as an attempt to persuade investors that India is a strong prospect for investment and that he is serious about dismantling some of the barriers that have previously been in place to investing in his country. Should Mr Modi be successful in his pursuit of blockbuster investments it could be a tremendous step forward for one of the world’s fastest growing economies.
With a large population and growing number of wealthy middle class, India is a burgeoning market that many foreign companies would like to tap into should the conditions be right for them but talks over nuclear energy stalled under the last government as well as America having issue with certain pharmaceutical products from India but it not just a one way conversation.
India would also like reassurance about American immigration and visa policy towards their country as more and more IT and technology companies within the sub-continent begin to worry about the implementation of these policies and what it could mean for their employees which, in turn, could affect the American tech sector.
Should this visit be a successful one Mr Modi and President Obama could both have much to brag about, seeing serious trade and investment going both ways and shoring up the each of the nation’s finances with more foreign money and investment flowing into their own coffers.
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