NEW DELHI: India and the US can reach trade deals of a much larger scale at a faster pace, and aim for a target of $500 billion in bilateral trade over the next 10 years from the existing $160 billion, commerce minister Piyush Goyal said on Tuesday.

The US and India have agreed to enter into negotiations on a Free Trade Agreement (FTA), Goyal said at a business conference, hours after President Donald Trump said trade negotiators of the two countries had made “tremendous progress on a comprehensive trade agreement” and he was  “optimistic” about a deal.

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Source: Hindustan Times

The series of pathbreaking and ambitious reforms unleashed by the Modi government in the last few years will make India a very competitive and productively-efficient economy in the long run, a top Indian official said on Friday.

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Source: Hindustan Times

Prime Minister Narendra Modi stressed continued political stability and predictability of policies in India at a round table with the CEOs and top executives of top American companies, including those from Walmart, Lockheed Martin, IBM, Coca Cola, MasterCard and Marriott.

While overwhelmingly optimistic about their outlook for India, the business executives had sought further action on ease of doing business and innovations, Guruprasad Mohapatra, secretary of department for promotion of industry and internal trade, told reporters.

USIBC’s Nisha Biswal told MSN after the meeting, “They talked about how a continued path on fiscal reforms and continued progress on the ease of doing business can really help advance India’s economic growth. And I think the Prime Minister listened with a lot of attention to those issues and responded to a number of those areas and talked about how he is looking to continue that reform process as he goes into his second term.”

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Source: Hindustan Times