American companies continue to bet big on India says USIBC

Vastavam web:  American companies continue to bet big on India, a top US corporate leader has said, noting that the world’s two largest democratic countries have incredible opportunities to come closer through digitisation.”At a time of global uncertainty, the only constant element that businesses and markets across the world will continue to face is technological disruption,” USIBC chairman and CISCO executive chairman John Chambers said yesterday.The US and India have incredible opportunities to come closer through digitisation; creating jobs, driving citizen engagement and transforming the lives of 1.3 billion people in India and over 300 million in the US, he said.
The summit in Silicon Valley was attended by approximately 200 senior-level business leaders and investors including those from Amazon, PayPal, Deloitte, Facebook, iCreate, Nuveen, Mastercard, Mobility Infrastructure Group, Varian Medical and Visa Inc.Naidu was awarded the ‘Transformative Chief Minister Award’, in recognition of his achievement in championing US- India ties in the areas of trade, politics and culture.”The companies that are here – you are at the global level, with global knowledge. You are all doing well. I invite you to take technology and best practices, and together we can take it to India to transform India,” Naidu said.
USIBC president Mukesh Aghi said with India’s move towards a cashless society, plans to build smart cities and the explosive growth of e-commerce, it is imperative that there are deliberations on what the challenges are towards creating a digitally driven economy and how American companies can help in this endeavour. Maintaining a strong and healthy relationship between the US and India is critical, and USIBC facilitates closer collaboration as both nations look to harness the power of digital transformation to accelerate economic growth and social progress, said Punit Renjen, Deloitte Global CEO and USIBC board member.
Senior vice president of Global Government Relations, Visa Inc Demetrios Marantis said, “Visa applauds India’s bold move toward a less cash society and we remain committed to supporting India’s continued economic growth.PayPal’s Chief Technology Officer Sri Shivananda said India is on an unprecedented growth path, boosted by Modi-led Digital India, Startup India and Make in India initiatives.”The progress made is visible across sectors. The vision of the government to make India a less cash, digitally empowered society and leading digital economy is commendable.