US-India Strategic and Partnership Forum says these companies are enquiring about investing in India in order to explore ‘Make In India’ as an alternative to China
New Delhi: The US-India Strategic and Partnership Forum’s (USISPF) has claimed that not less than 200 US-based manufacturing companies are enquiring about investing in India under ‘Make In India’ with a view to find an alternative to their existing manufacturing base in China. The president of USIPF Mukesh Aghi said that the companies are talking to them enquiring about investing in India and shifting their manufacturing base from China.
‘Be more transparent and swift in decision-making’
“I think that’s critical. We would advise to bring more transparency in the process and to make it more consultative because in the last 12 to 18 months, we are seeing US companies look at some of the decisions being made, either e-commerce or data localisation, as more domestic-oriented than global,” Aghi told news agency PTI in an interview.
A lot depends on the new govt
He further said a lot depends on how the new government that will come into the picture post-May 23 accelerates the reforms and bring transparency in the decision-making process. “We need to understand how we can attract those companies. And that means all the way from land issues to customs issues to being part of the global supply chain. Those are critical issues. There are a whole plethora of reforms that need to go further down, and I think that is also going to create a lot of jobs,” he added.
“We need to understand how we can attract those companies. And that means all the way from land issues to customs issues to being part of the global supply chain. Those are critical issues. There are a whole plethora of reforms that need to go further down, and I think that is also going to create a lot of jobs,”
The same group, although had made claims about investments in Uttar Pradesh after BJP came into power in the state. USIPF had then claimed that US-based firms are seeing a window of opportunity to invest in Uttar Pradesh. USIPF had then facilitated US visit of a UP govt officials delegation under health minister Siddharth Nath Singh who also happens to be head of ‘US investment Cell’.
When asked what is going to be his recommendation to the new government Aghi said “One recommendation, which I strongly believe is going to help India is that we should now start thinking of a Free Trade Agreement (FTA) between India and the U.S,”.