At the CEO meet, PM Narendra Modi and US President Barack Obama promised a lot, including a better tax...
At the CEO meet, PM Narendra Modi and US President Barack Obama promised a lot, including a better tax regime in India and America to provide $4 billion in loans and investments that could unlock what the prez called the “much untapped potential” of a business and strategic partnership between the two countries.
Here are the highlights:
Huge potential for all sectors in India, Prime Minister Narendra Modi said while addressing business leaders.
Economy has to grow to increase purchasing power: PM
India is full of opportunities, we have talent as well as scope; want to focus on skill, scale and speed: PM.
Agree with the suggestion to monitor big projects at PMO level: Modi.
There is a need for consistency in polices for economic growth: Modi at CEOs meet
We have worked tirelessly in last 8 months to increase economic growth and transform lives of people: Modi
Modi promises a predictable tax regime
You will find environment that is open and welcoming; we will guide and walk with you; you will find a climate that encourages investment and rewards enterprises: Modi
Aims to be in top 50 nations in ease of doing business, says Modi.
Prosperity is no guarantee for peace; India sees world as one family: PM.
Barack Obama on his part, spoke after PM Modi’s speech:
Obama raises intellectual property rights issues.
There is natural convergence between India and the US. There is incredible business talent in India: US President Barack Obama.
PM Modi has brought new energy, vigour to redesigning the architecture in India so that more business and greater growth take place: Obama
We are moving in the right direction. There is still untaped potential that we have not realised. Lot more work needs to be done: Obama.
We want to see more trade. We want to see more investment between the two countries that will benefit the people.
Great interest on part of US companies to find consistency, clarity, greater simplicity in regulatory and tax environment in India: Obama
Exim Bank of US to commit USD 1 billion for project financing: Obama.
US Trade and Investment Development Agency to provide USD 2 billion for renewable energy projects: Obama
We can work together to develop new technologies to help India leap forward: US President.