Digital economy to bring future growth, opportunity between India & the US

Describing the digital economy as a goose that lays golden eggs, the head of the US-India Business Council (USIBC) has called for the creation of structures, regulations and legal framework to ensure the continued vitality and growth of this key sector in the US and India.

There is a sweeping revolution happening in India, and it is going to have an enormous positive impact on India, on America, and on the entire world. After centuries of disruption, India is returning to its historic stature as one of the largest, most dynamic and prosperous economies on earth.

The head of the US-India Business Council (USIBC), Atul Keshap said, optimism that US-India cooperation could help address some of the global economic challenges. We can have a dispositive impact in building a dependable, resilient, free world supply chain for all of the things that we must have the critical materials of fuelling and powering and supporting innovation things like semiconductors and rare earth.

Keshap emphasised that the main imperative for India to attract continued investment from global companies and build stronger trade ties with the United States is to create an enabling and predictable policy landscape. An investor wants stability, predictability, transparency, ease of doing business, simple procedures, and a level playing field, and doesn't want an unfair advantage. Reaffirming the USIBC's vision of a $500 billion US-India trade partnership, Keshap highlighted the digital economy as a space for future growth and opportunity.

S Mohini Ratna, Editor, VARINDIA