Mumbai: The prospects of trade between India and US will be the trigger for global economic recovery, said Mr Adi Godrej, President-designate, Confederation of Indian Industry in an interaction with US-India business council.
“India's trade with the US has gone up from $5 billion in 1990 to $100 billion now. This has potential to grow further,” he said. To harness the full potential, both the countries should create an environment that is investment friendly for businesses to invest in both the countries, he added.
“Infrastructure remains a mega opportunity for the US companies to engage in India's development plans. From roads, highways and railways to ports and airports, India needs capacity building at every level,” said Mr Godrej.
An investment of $1 trillion has been envisaged for infrastructure development under the 12th Five-Year Plan and about 30 per cent of it is expected to come from the private sector.
“Policy reform in the financing arena, technology transfer and sharing best practices are some avenues through which collaboration among US and Indian SMEs can be accelerated,” Mr Godrej added.
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