V
V.Balasubramani
Guest
[h=1]Bullish On Indian Economy, US Praises GST, Says It will Boost Trade Ties[/h]WASHINGTON India's most transformative tax reform in decades - the Goods and Services Tax or GST - was today praised by the US as it spoke about bilateral trade ties.
US Commerce Secretary Penny Pritzker, who will begin her 3-day trip to India from tomorrow, said, "India's rapidly growing economy and the Modi government's ambitious reform agenda, including the landmark Goods and Services Tax, passage of the recent national bankruptcy law, and liberalised foreign direct investment limits in key sectors, point toward a deeper economic relationship in the years ahead."
Talking about the expanding economic ties with India, Ms Pritzker, said "Our two countries enjoy a thriving trade and investment relationship. US-India bilateral trade reached $109 billion in 2015, up from $37 billion in 2005."
"US and Indian companies are also investing in each other's economies at record levels. In 2015, US investment in India reached more than $28 billion and Indian investment in the United States reached more than $11 billion. In fact, US affiliates of Indian-owned firms now employ more than 52,000 workers in the US," Ms Pritzker told Press Trust of India in an interview.
Read more at: http://www.ndtv.com/india-news/bull...ses-gst-says-it-will-boost-trade-ties-1451351
US Commerce Secretary Penny Pritzker, who will begin her 3-day trip to India from tomorrow, said, "India's rapidly growing economy and the Modi government's ambitious reform agenda, including the landmark Goods and Services Tax, passage of the recent national bankruptcy law, and liberalised foreign direct investment limits in key sectors, point toward a deeper economic relationship in the years ahead."
Talking about the expanding economic ties with India, Ms Pritzker, said "Our two countries enjoy a thriving trade and investment relationship. US-India bilateral trade reached $109 billion in 2015, up from $37 billion in 2005."
"US and Indian companies are also investing in each other's economies at record levels. In 2015, US investment in India reached more than $28 billion and Indian investment in the United States reached more than $11 billion. In fact, US affiliates of Indian-owned firms now employ more than 52,000 workers in the US," Ms Pritzker told Press Trust of India in an interview.
Read more at: http://www.ndtv.com/india-news/bull...ses-gst-says-it-will-boost-trade-ties-1451351
