The Indian government is also willing to tackle any shortcomings of the GST plan, Nisha Biswal told Economic Times.
The Narendra Modi government has rebranded India during past three years and gave Indian economy the impetus to growth, said Nisha Biswal, who recently took charge as the president of the US India Business Council (USIBC).
In an interview to Economic Times, Biswal said that the reforms undertaken by the government are reflected in the jump in the ranking of ease of doing business.
“The reforms had stalled after the initial few years. Brand India is now being re-established and this is being reflected in the 30-point jump in the ranking of the ‘Ease of Doing’ business (World Bank report),” Biswal told the Economic Times.
“The government here has undertaken reforms like GST and initiatives liked de-monetization would help to create a cashless society and increase the revenue collections of the government. The Indian government is also willing to tackle any shortcomings of the GST plan,” she added.
Biswal added that land and labor reforms are necessary to attract huge investment to India. She is on her first visit to India after she took charge of the council.
Stressing on the importance of India in Indo-Pacific region, the former US official opined that Indo-US partnership along Indo-Pacific is since the prosperity as well as the security of the USA in the next decade depends on how it engages in the Indo-Pacific.
The relationship between the US and India will shape the Indo-Pacific region. But, the relationship between the largest democracies in the world is not just about geo-strategy but also geo-economics, which will have an impact on the region.
Biswal, who was a former Assistant Secretary of State for South and Central Asian Affairs, under Obama Administration had worked in bringing the US and India together in economic and strategic levels.
“The USIBC has provided a very appropriate platform to further business partnership and contribute to taking bilateral trade from the current $115 billion to $500 billion,” Biswal said.
She is expected to visit Indian leaders in over the next few days.