/HYDERABAD IS VERY CONDUCIVE FOR U.S. INVESTMENTS : US Consul General Joel Reifman

HYDERABAD IS VERY CONDUCIVE FOR U.S. INVESTMENTS : US Consul General Joel Reifman

Telangana is the most progressive state in India with business friendly initiatives like TS IPASS, T-Hub, We-Hub and many more . The city of Hyderabad is most conducive for US investments. We have many US establishments in the city, including defense and IT majors and financial services said His Excellency Joel Reifman, the US Consul General at Hyderabad during an event organized by The Federation of Telangana Chambers of Commerce and Industry (FTCCI) CEO forum titled India – US Relations:Taking the Strategic Partnership Forward

The recent successful visit of US President Mr. Donald Trumpto India and his friendship with the country and in particular with Indian Prime Minister Mr Narender Modi will make US-India relations stronger and everlasting. The affection showered by this country’s people on our president is enormous and amazing. We have certain business issues with respect to trade deficit and market access, and I am hopeful it will be resolved soon given the friendly atmosphere between the two countries. The US – India trade stood at 142 Billion USD last year and I am hopeful it will increase further manifolds in future.

“I am happy to be in Hyderabad for the last 6+ months and amazed to see the Business friendly initiatives of the Telangana state. We are going to have our biggest consular office in India at Hyderabad, bigger than Mumbai, in next 18 months at Gachibowli, Hyderabad with 54 visa processing windows compared to present 16!! We are investing 300 million USD for the same” His Excellency Joel Reifman added.

On this occasion, Karunendra S. Jasti, President, FTCCI said, “The relations between the two countries have never been as good as they are now and this interactive meet on the theme -India US Relations – Taking the Strategic Partnership Forward – is timely, after the memorable visit of Hon’ble President of US Mr.Donald Trump to India. During the discussions between the two Governments have reinforced the bet on a longer-term convergence, elevating the relationship now to a Comprehensive Global Strategic Partnership.

India-U.S. bilateral cooperation is broad-based and multi-sectoral, covering trade and investment, defense and security, education, science and technology, cyber security, high-technology, civil nuclear energy, space technology and applications, clean energy, environment, agriculture and health. Vibrant people-to-people interaction and support across the political spectrum in both countries nurture our bilateral relationship.

It has been said that a ‘perfect storm’ in technology is coming through progress in 5G, AI, quantum computing, convergence of biology and digital. These will completely transform the way we live and work. FTCCI has been making concerted efforts to educate and create awareness on future technologies. I am happy to mention that FTCCI has recently organized a Conference on 5G – The Catalyst to Digital Revolution and eminent experts and stakeholders from the emerging area addressed the event, with a view to enlighten opportunities related to the deployment of 5G, high-speed digital applications, and how such a technology could usher the country.

USA is India’s largest trading partner in terms of exports (accounting for 15.9% of total exports from India in FY19) while it is the 2nd largest trading partner in terms of imports (6.9% of total imports to India). There has been a sustained increase in the FDI inflows from the USA to India over the years. During 2011-2018, the FDI inflows grew by 13% CAGR. Improved ease of doing business ranking owing to concerted efforts taken by the Government along with easing FDI norms in certain sectors like insurance, multi-brand retail, manufacturing among others has led to increase inflows from USA.

To remain globally competitive and to realize our aspirations for a $5 trillion, we need to build partnerships. Much work lies ahead to make the India-U.S. relationship a “defining one” in the 21st century, but we are headed in the right direction.

The event among others was attended by Mr. Ajay Mishra, IAS, Spl Chief Secretary – Energy, TS Govt; Dr. E Vishnu Vardhan Reddy, IFS, Regional Passport Officer Hyderabad; Ms. Natasha Rodriguez, Vice Counsel, U.S. Consulate – Hyderabad; Mr. W Theodare Immanuel, Office Director & Commercial Specialist at U.S. Consulate – Hyderabad; Mr. Siba Prasad Tripathy, Political and Economic Specialist, U.S. Consulate – Hyderabad; Mr. Ramakanth Inani, Senior Vice President, FTCCI; Ms. Khyati Naravane, CEO, FTCCI and CEOs representing from Textile, Gems & Jewelry, Defense & IT Sectors of Telangana state

Share This