“'Advantage India,” a June 26 webinar on bilateral investment between the two nations organized by the Indo-American Chamber of Commerce, featuring industry doyens and Minister of Commerce, Industry and Railways Piyush Goyal, to address the future for the two nations.
The webinar kickstarted a bilateral investment series for global investors, according to a press release. In addition to Goyal, the speakers included Kaku Nakhate, president and country head, Bank of America; Ramesh Nair, CEO and country head, India- JLL; Chris Franzen, general manager, Grand Hyatt Hotels; and members from Team IACC to talk about mutual investment opportunities within these nations.
Naushad Panjwani, regional president, West India Council, IACC, talked about how international dynamics have changed over the years.
"The U.S. is now the largest merchandise trading partner for India, and we're extremely delighted by it. The time is ripe to further expand the exchange between U.S. and India at the political, business and people to people levels," Panjwani said, according to the press release.
In what can be construed as a rebuttal against a neighboring nation, the union minister emphasized how India cannot afford to remain dependent on “low cost, low quality” products and needs self-reliance, built alongside investment from global partners. Here, he invited investments, trust and collaboration with countries in North America, South America and Europe.
The Atmanirbhar plan, he said, was about building a competitive advantage through skilled domestic workforce and the availability of certain raw materials. As an example, he said that sectors like steel, oil and gas, medical devices and manufacturing can benefit and develop through global collaborations.
Nakhate highlighted how the defense could be another such melting pot.
“Advantage India,” Nakhate maintained, was about what the country uniquely brings to the table for any global investor, pointing out that "the ease of Indian laws, friendly FDI regulations, a young demographic and the largest middle-class population, make India the ideal field for investment."
Frazen emphasized that "if you do decide to invest in India, my recommendation would be to engage with partners who hold valuable information and experience in navigating the sectors and laws of the respective state. This would ensure you go through the process of opening a company and investing in the country swiftly."