February 25, 2020
Donald Trump’s visit a leap towards a USD 500 Billion trade between the two Nations by 2025
Dr D K Aggarwal, President, PHD Chamber of Commerce and Industry congratulates the leaders of India and the United States and its citizens over finalizing of a USD 3 Billion defense deal and the signing of 3 significant MOUs, in the Health and Oil sectors among others.
Both the countries have significant potential to enhance trade to the level of USD 500 Billion by 2025 from the current level of less than USD 150 Billion. The current visit of the US President will significantly boost the sentiments of businesses to enhance the trade and investment trajectory between the two economies, said Dr D K Aggarwal, President, PHD Chamber of Commerce and Industry in a press statement issued here today.
In recent times when National Safety and Security of its citizens is of utmost importance for any country, a significant defense deal with the United States for providing us with the best and most feared military equipment, including Apache and MH-60 Romeo helicopters, will be a big leap forward in further building our defense cooperation, said Dr D K Aggarwal.
Going forward, there is an unparalleled potential for development of bilateral relations between India and US and we expect a comprehensive trade agreement to be successfully signed between the two Nations in the near future, taking the Indo-US ties to a global partnership level, said Dr Aggarwal.
Based on strong complementarities and growth prospects, the bilateral merchandize trade between India and the United States is likely to cross USD 100 billion by FY2021, said Dr Aggarwal.
There is a need to outline the contours for a sustainable trade negotiation between the two countries which is broad based and encompasses wide ranging potential sectors of development, said Dr Aggarwal.
Significant discussions on the importance of a secure 5G wireless network and the need for this emerging technology to be a tool for freedom, progress, prosperity between the leaders of the two nations is highly appreciated and a significant step towards modernization of India’s telecom networks, said Dr Aggarwal.
PHD Chamber of Commerce and Industry