Shri Piyush Goyal invites businesses in the US to look at India as a manufacturing base

Last updated: 18 February 2021

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India's Minister of Commerce and Industry, Shri Piyush Goyal, has encouraged American businesses to consider India as a prime manufacturing base. He highlighted that India offers access to a large domestic market and cost-competitive production for global exports, supported by recent reforms in sectors like defence, mining, and insurance. While keen to expand digital trade, India will prioritise data privacy and protect its policy space. The minister also pointed to India's strengths as the 'Pharmacy of the World' and its commitment to affordable healthcare and clean water initiatives.

Expresses keenness to expand on the digital space with the US but keeping in mind responsibility to the people of India for data privacy Minister of Commerce and Industry, Railways andConsumer Affairs and Food Public Distribution,Shri Piyush Goyaltoday said that trade between India the US has grown exponentially, but still there is a lot to be desired.Delivering the inaugural virtual address at the annual @USIBC State of US - India Business, he said that we had set a modest target of half a

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FAQ :

Shri Piyush Goyal invited businesses in the US to look at India as a manufacturing base, from which they can serve both the large Indian market and global markets.

India offers access to a large market, cost-competitive products, and has implemented reforms in defence, mining, labour, and agriculture sectors, alongside an increased FDI limit in insurance to 74%.

India is keen to expand digital trade with the US but will remain conscious of its responsibility to protect the data privacy of its citizens and its policy space.

India is recognised as the 'Pharmacy of the World' for providing generic medicines at affordable prices globally, and offers the world's largest free healthcare programme to 500 million people.

Trade between India and the US has grown exponentially, with a modest target of half a trillion dollars, achievable through continuous engagement and by complementing each other's strengths.

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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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