| Published: Sep 27 2014, 01:36 IST
Sep 27 2014, 01:36 IST
SummaryAfter visiting Japan and welcoming Chinese president Xi Jinping to India, Prime Minister Narendra Modi is now on a five-day visit to the US.
After visiting Japan and welcoming Chinese president Xi Jinping to India, Prime Minister Narendra Modi is now on a five-day visit to the US.
While Japan has been always keen on investing in India, the limited interest of the Chinese in the country was visible during Xi�s stay.
So, Modi�s US visit, which began on Friday, is being keenly watched. There is immense potential for American companies to invest in India, especially in pharma, defence, auto component and energy sectors, but concerns about India�s business atmosphere remain.
The retrospective tax amendments and uncertain policy atmosphere during the previous UPA regime have made the situation worse.
It is not surprising, therefore, that FDI from the US has not been encouraging. The Prime Minister will have to reassure the US companies about the country�s IPR policies and also the possibility of quick improvement in the business environment.
The Indo-US trade is also another area that needs attention, and the US has to ensure that the immigration laws will not hurt India�s software exports.
Among other issues, both the countries are likely to show forward movement in the civil nuclear deal but it would be interesting to see what the US reaction will be to India�s stand on the WTO trade facilitation agreement.
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