Thread by @PiyushGoyalOffc

Minister @PiyushGoyal delivering the inaugural address at the annual @USIBC State of US - India Business.

https://twitter.com/PiyushGoyal/status/1362053892796649472

India looks forward to working very closely with the new US administration to strengthen the ever expanding ties in a variety of areas: @PiyushGoyal

India has established a very strong & multi-faceted relationship. It touches every part of human existence.

We need to further India-US trade & economic engagement with greater degree of flexibility: @PiyushGoyal

India has been reasonably successful in our fight against COVID-19.

We are working with the US administration in healthcare sphere: @PiyushGoyal

India shall now have 74% FDI permitted through the automatic route in insurance, which was specifically asked by the US.

This will help insurance companies grow in India: @PiyushGoyal

Our reforms in defence, mining, labour and agriculture sector will open up new opportunities for the American companies: @PiyushGoyal

Trade between India & US has grown exponentially, but still, there is a lot to be desired.

We had set a modest target of half a trillion dollar.

I do hope we continue to engage with this ambitious target in our bilateral trade: @PiyushGoyal

India provides an under-served aspirational market.

At the same time, we will look at a fair dealing in our engagement: @PiyushGoyal

As democracies wanting to give a better future to our people, we have a lot of synergy in our thinking.

I am delighted to hear that the new administration has re-joined the Paris Agreement: @PiyushGoyal

I look forward to re-kindle our institutional mechanism for trade, the Trade Policy Forum, and our commercial dialogue to deepen this relationship through continuous engagements: @PiyushGoyal

I invite businesses in the US to look at India as a manufacturing base from where you can serve a large Indian market and also serve global markets through cost-competitive products: @PiyushGoyal

US & India compliment each other.

US offers technology, finance & innovation.

Whereas, India has a large market that needs to be served. At the same time, we need to protect people in agriculture & protect them from low quality products: @PiyushGoyal

We are keen to expand on the digital space with the US. However, we would be conscious of our responsibility to the people of India for data privacy.

There are a lot of concerns with the big tech companies, and India would like to protect its policy space: @PiyushGoyal

The US will have to be very sensitive to price points in India, which matter to emerging economies with millions of people just coming out of poverty: @PiyushGoyal

We have increased the budget on healthcare very significantly and decided to invest very large amounts of money on the 'Jal Jeevan Mission' over the next 4-5 years to provide clean drinking water to every home: @PiyushGoyal

In some sense, India is already recognised as the 'Pharmacy of the World'. We provide a lot of generic medicines at affordable prices to large parts of the world: @PiyushGoyal

India provides free healthcare to 500 million people. This is the world's largest free healthcare programme.

Additionally, our health cost to our people have to be kept very affordable: @PiyushGoyal