In addressing the US-India Business Council and Congress in D.C. this week, India’s Prime Minister, Narendra Modi, touted his economic reforms designed to promote global business growth and partnership. His efforts were met by thunderous applause.
Rightly so. Since taking office in May 2014, Modi has put into place a number of new policies to help open up foreign trade and investment - measures that support successful expansion of U.S. businesses into India.
Among his reforms was his move to cut bureaucratic red tape – an issue of concern for many U.S. companies considering expansion into foreign markets. His efforts have been recognized with India’s improved ranking in the World Bank’s Ease of Doing Business index.
U.S. businesses and the world are taking note of Modi’s commitment to India’s economy. U.S.-India trade increased from $60 billion in 2009 to $107 billion in 2015. And, India has surpassed China as the fastest growing major economy, announcing a 7.6 percent increase in gross domestic product for fiscal year 2016.
For an understanding of the scope of Prime Minister Modi initiatives, you can check out the newly released Modi and His Challenges by Dr. Rajiv Kumar, a renowned economist and senior fellow at the Centre for Policy Research. Dr. Rajiv is also the expert speaker on India at GetGlobal 2016
While Modi’s efforts are seen as steps in the right direction for both the people of India and global business growth, he faces challenges ahead. He is taking the nation in a new direction and that can take time. Indications from his visit to the U.S. this week show that he is committed to seeing it through.
For an understanding of the scope of Prime Minister Modi initiatives, you can check out the newly released Modi and His Challenges by Dr. Rajiv Kumar, a renowned economist and senior fellow at the Centre for Policy Research.
India expansion will also be a key topic of discussion at the GetGlobal 2016 Conference/Expo being held in Los Angeles this October. If you are ready to learn more about your global expansion opportunities in India and other promising markets, register for GetGlobal 2016 here.
Read more about Dr. Rajiv Kumar, who is speaking at GetGlobal, here.