U.S.-India trade partnership to grow to $500 billion |
The U.S.-India trade relationship, currently valued at $120 billion, will grow to $500 billion in the near future, predicted Nisha Biswal, Indian American president of the U.S.-India Business Council, on March 18.“The opportunities between U.S. and India are greatly below their full potential,” said Biswal, who formerly served in the Obama administration`s State Department as the Assistant Secretary of State for South and Central Asian Affairs. It`s going to take its own path, but if you`re willing to climb the tree, ignoring the thorns, you will see success, she said, adding: “India has become the most important economic market in the world.”Citing a Jan. 11 2018 article in The Economist, entitled “India`s Missing Middle Class,” Prashant Fuloria, COO, Fundbox, challenged Biswal`s assertions, noting that the size of India`s middle class and its purchasing power have been grossly overstated.Biswal advised the audience of Indian American investors and others to “get out of the capital” and into states and cities in India, where real opportunities can be found.The entrance of corporate giants Walmart and Amazon into India has been a great move for the country, said Biswal.
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