Indian manufacturing can meet US demands as it looks beyond China: Indian-American entrepreneur
May 26, 2023
As the US looks for an alternative to Chinese products, India's manufacturing sector has the potential to meet its demands, an Indian-American entrepreneur has said, asserting that American technology and Indian manpower can create another cool economy.
Vinesh Virani, who is working on a number of Indian agricultural products with an emphasis on ayurvedic and organic to meet the American demands which surged post-Covid-19, said it would be helpful for India to open up its market for American products and services.
A lot of manufacturing that shifts from China and other parts of the world can be very much suitable to India, and India can fulfill America's demand. We (Indian Americans) are looking at (Narendra) Modi's visit as trade-related, open market, Virani told PTI.
American technology and Indian manpower can create another cool economy, he said. Referring to some of the restrictions imposed by India on the import of certain agricultural products, Virani hoped that Prime Minister Modi and the Biden administration agree on finalising an agreement that would further open up the market on both sides.
Virani applauded President Biden for inviting Prime Minister Modi on an official state visit. Modi has been invited by President Biden and First Lady Jill Biden for an Official State Visit on June 22
After so many years, America is recognising India and its leadership, Virani said. Indian Americans who left back in the 60s and 70s had some negative thoughts about India, he said, adding that those perceptions are now changing. "The Modi government did a tremendous job to change the image of India, he said.
I think the market is open very well. Very well-received business policies. The only thing that we are asking him to do is that little bit more, open up in the sense of the ease of (doing) business, Virani said. I saw some of the businessmen complaining that, yes, it is easy to invest, but after that the local people (State and city level) were giving them a hard time. ..that needs to be addressed, he said.