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Pritzker said Prime Minister Narendra ModiÂ’s commitment to Pritzker said Prime Minister Narendra ModiÂ’s commitment tohost the 2017 Global Entrepreneurship Summit will highlightIndiaÂ’s strong culture of innovation on the global stage andprovide Indian entrepreneurs with an exceptional opportunityto meet with top investors and network with theirinternational peers. Pritzker, who has been the US Secretary of Commerce forover three years and is a key member of President BarackObamaÂ’s economic team, will be travelling to India for thesecond US-India Strategic and Commercial Dialogue and theUS-India CEO Forum. During the visit, she will meet Indian entrepreneurs andparticipate in an event celebrating US-India cooperation ontravel and tourism. India and the US have decided to be Traveland Tourism Partner Countries in 2017. On whether the Modi government has delivered on its targetof improving ease of doing business score and the feedbackfrom the US companies operating in India, she said: "Wewelcome Prime Minister ModiÂ’s ambitious efforts to improveIndiaÂ’s business climate and enable greater trade andinvestment. The recent passage of the Goods and Services Tax,for example, is a truly historic accomplishment withpotentially far-reaching benefits for the Indian economy andour expanding bilateral trade and investment partnership withIndia." She added: "However, the GST is just one in a series ofsteps the Indian government has taken to improve the ease ofdoing business in India. Since taking office in 2014, the Modigovernment has passed the national bankruptcy law, raisedforeign direct investment caps in sectors including defenseand insurance, established commercial courts, and ratified theWTO Trade Facilitation Agreement. "On infrastructure, the Modi government has establishedSpecial Purpose Vehicles for smart cities, promoted municipalbonds for urban development, and launched a NationalInfrastructure Investment Fund. We applaud these reforms andurge the Government of India to prioritise their fullimplementation." She further said that while the US companies haveresponded positively to these efforts, they also continue toraise concerns about persistent business climate issues thatimpede greater trade and investment between our two countries. Pritzker said: "These include unclear tax policies,burdensome regulations, inadequate protection and enforcementof intellectual property rights, and onerous localizationrequirements. Companies seek a more transparent andpredictable policy environment, including consistent noticeand comment procedures in the rule-making process, in order toplan investments and inform long-term business decisions. "Industry also sees promising opportunities to facilitatetrade further through streamlining complex and cumbersomecustoms processing procedures, implementing a single-windowapproach to government licensing, and increasingpredictability and efficiency in government approvals andinspections related to cross-border trade." PTI LKJ BJSA


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