The group says it is pleased that the budget contains many of its recommendations.
US-India Business Council on Friday praised the Union Budget 2018-19 calling it a move by the Modi government to leverage the growth and prosperity of India in the coming years.
The organization said, in a press release, that it is pleased that the budget contains many of its recommendations in critical areas such as infrastructure development, access to health care, affordable housing, energy, and education for all citizens form the backbone of any growing economy.
“American industry is committed to growing, strengthening, and sustaining these areas of collaboration with India,” it said.
The three years of Modi-lead government has given shape to a robust economy, which is on a growth path backed by strong reform agenda, the group said.
For the current year, USIBC has put the priority on ensuring greater ease of doing business, promoting certainty, transparency, and predictability in decision-making to ultimately, unlock greater growth and investment opportunities for businesses in both US and India whereby strengthening the US-India commercial partnership, it added.
“[The] American industry is committed to growing, strengthening, and sustaining these areas of collaboration with India,” said USIBC President Nisha Biswal.
“In the last three years, India has been on a robust path to growth, backed by a strong economic reform agenda. USIBC’s goal is to keep up the momentum of the US-India commercial partnership to ultimately, unlock greater growth and investment opportunities for businesses in both nations,” she added.
The USIBC, an advocacy organization, consists of 350 top-tier U.S. and Indian companies doing business in both the United States and India. It is part of the US Chamber of Commerce, the world’s largest business federation.