Mr Piyush Goyal, Minister of Commerce & Industry and Railways, Govt of India, said that US President Mr Donald Trump's visit will strengthen the India-US socio-economic relations further. Mr Goyal said, "Investment will be a natural corollary, of peace in the region & economic growth. India has a billion plus people, aspiring for a better quality of life, providing a huge marketplace and a huge business opportunity."
Mr Goyal said on the economic front, having almost closed the last contours of the limited trade deal and with the announcement of a much larger trade deal in the offing, we have moved to a new level of engagement. "On the strategic front, the partnership between India & US will hold us in good stead as we move towards peace in this region, which is very important for economic growth. This engagement will help us on a variety of fronts. For us in India, in terms of our engaging with new technology and for USA, India will become a big source for both talent & manufactured products," added Mr Goyal.
He further said, "I see $500 billion as a good trade benchmark to work with, while we are looking at expanding this relationship on a people to people level. India's demographic dividend can help serve American interests and the large American economy can provide low cost capital, investments and opportunities for our talent in a big way." He emphasized that India is poised to be amongst the top 3 economies of the world. "Five years from now, we want to make sure that poverty is completely eliminated from India and every home has a decent quality of life. That is the right of every child in this country," he said.
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