India is open for investment and the US companies are eager to move in, head of a bilateral trade organisation has said while praising Prime Minister Narendra Modi for embarking on a journey to change the business environment in the country. "India is ready and open for investment and the US is eager to move in," said Mukesh Aghi, president of US India Business Council (USIBC), the apex trade and business advocacy group for American businesses having a foothold in India.
Aghi, who took the reins of USIBC this month, said the American companies were particularly looking at the $1.5 trillion investment opportunities in the infrastructure sector. The success of USIBC, which is celebrating its 40th year would be measured by increasing bilateral trade to $500, he said. "The challenge is there, but I look at it as an opportunity," he said.
"The Government of Prime Minister Modi has embarked on a journey. Expectations are high. When you try to turn a large ship, it takes time. When you try to change the environment, it does take some time. It is going to take probably longer time," Aghi said. Welcoming Aghi as the new head of USIBC, the Indian Embassy Chargé d'Affaires Taranjit Singh Sandhu said the relationship between India and the US has never been as strong as they are on Wednesday.