US corporate sector welcomes Indian Budget |
America`s corporate sector has hailed the maiden Budget of Indian Finance Minister Nirmala Sitharaman, noting that it is not only inclusive but also attractive for foreign investments. President of US India Strategic and Partnership Forum (USISPF) Mukesh Aghi said the budget is inclusive and policy decisions are encouraging for American companies. It`s “good news” for companies like Apple, Aghi said. The Budget opens up the Indian market, and encourages US companies to invest more, at the same time it ensures prosperity and growth for the lower sections, he said. The Budget is trying to make positive structural changes, he added. The 2019-2020 Budget delivers a forward-looking and reform-minded approach for the Modi government`s second term, said Nisha Desai Biswal, president of US India Business Council. USIBC welcomes proactive measures to double farmers` income, liberalise FDI in a number of sectors and allow 100 per cent FDI for insurance intermediaries, and increase FPI investment limits -– all reforms USIBC has actively supported, she said. USIBC members will be encouraged by the Budget`s focus on skilling Indians, with an emphasis on jobs in data analytics, artificial intelligence, and robotics, Biswal said.
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