At the third edition of the ICCR-Houston India conference, various other panellists highlighted that possibilities of economic ties between India and the US are limitless and investment in different emerging industries such as digital payments, e-commerce and startups can further encourage business on both sides.
An expert also says as panellists at a conference that discussed ways to promote and encourage the bilateral trade investment, "India is becoming a "laboratory" for US companies, not only to explain their presence there but also to reinvent themselves in sustainability and innovative-technology."
Held under the theme of "Make in India-The Inside Story", the business event was attended by several senior officials from India and Texas state of the US.
Djordjija Petkosk, lecturer and senior fellow at Wharton Legal Studies & Business Ethics, University of Pennsylvania and advisor to World Bank, said, "India is becoming a laboratory for US companies, not only to explain their presence there but also to reinvent themselves in sustainability and innovative-technology."
"Also, an important step to encourage and enhance business in other emerging economies internationally," Petkosk continued.
Sanjeev Sanyal, Principal Economic Adviser at India's Ministry of Finance called for building of a new India, an economy based on innovation and rule of law.
Sanyal further said, "Economic principles in India are strong, and the challenge is to push it into an even higher growth route."
Sachin Chaturvedi, who is a Director General of Research and Information System for Developing Countries in India, discussed the financial introduction programs such as Jan Dhan Yojana, banking reforms and Corporate Social Responsibility activities in India.
Sandip Sen, Global CEO of Aegis Ltd, a private body, called for investment in various different areas of emerging industries.
"There are emerging industries and opportunities to invest in it including digital payments, e-commerce, startups and Artificial Intelligence and Machine Learning," Sandip Sen continued.
Houston Mayor Sylvester Turner highlighted that Houston is the 4th busiest gateway for trade between India and the US and highlighted the importance of a direct flight between Houston and India.
He further said, "A direct flight will help grow and boost the bilateral trade relations between Houston and India."
At the time of discussion, the experts also emphasized on the progress and development in the business relations between India and the US.
"India has progressed and developed from a reactive to a proactive society, which has led to the stability and safety of the economy from a security perspective," Air Vice Marshal (retd) Arjun Subramanian stated.
"Indian diaspora has become a censorious mass in the US, that going forward, the friendship between the two countries will only grow and enhance further," Makarand Paranjape, Director of Indian Institute of Advanced Study, Shimla, India, stated.