Washington: Describing the recent US visit of Prime Minister Narendra Modi as "highly successful", two top Obama administration officials have said it is time for the new Indian government to execute policies that create conducive environment for investments.
"The proof is going to be in the pudding," said US Commerce Secretary Penny Pritzker, while Trade Representative Mike Froman said, "Now the key is the implementation (of the promises made)."
Both the Obama administration officials were responding to questions during the annual leadership summit of the US-India Business Council yesterday.
Pritzker was one of the three US Cabinet Ministers to visit India during the first 100 days of the Modi government. Froman, who played a key role during Modi's US visit, said it was a very successful visit. He said he was very impressed by Modi's statement that India is now open for business.
"Now the key thing is the implementations," he said. Froman said US and India have great things in common, but there are differences too, which can be resolved through dialogue.
Froman noted that there has been significant increase in bilateral trade and added there is no reason not to increase it further.
But for that India needs to create a conducive business environment, including ease of business, clarity and predictability of policies as promised by the Prime Minister during his US visit, he said.
"We see India being a key part of the globally competitive supply chain. This needs creating business environment," he said.
"I think he (Modi) has already taken some of the steps, but there are more steps that need to be taken so that the there is an increase in confidence of the private sector," Froman said.
Pritzker earlier echoed the view. "So the proof is going to be in the pudding. We need to have early wins between our countries."
"We want this relationship to be successful," she said, and quickly added that a lot depends on changes in the regulations and laws and making business easier.
The faster these changes are made, the better the relationship, she said. "We are hopeful," said the Commerce Secretary.
USIBC acting president Diane Farrell said the new motto of the council is "India and US are the world's strongest trade partnership, where democracy is celebrated."
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