Exploring the possibility of developing India as an alternative in the midst of a <a href="https://www.wionews.com/world/huawei-founder-says-us-underestimates-company-cant-be-isolated-220252">US-China trade war</a>, the <a href="https://www.wionews.com/world/us-eases-some-restrictions-on-chinas-huawei-to-keep-networks-operating-220249">American corporate sector</a> eagerly looks forward to the election results and hopes that the new government adopts a "consultative process" in framing policies, experts say.

"US companies are looking for transparency and consistency in the policy framework. They would appreciate a consultative process (in) framing policies," Mukesh Aghi, president of the US-India Strategic and Partnership Forum said, ahead of the declaration of the election results on May 23.

India, Aghi asserted, has "a fantastic opportunity" to attract US and European\ companies as China trade relations get strained with its partners.&nbsp;

"These companies would consider India if ease of business improves along with predictability, otherwise countries like Vietnam and Cambodia are successfully attracting these companies," Aghi said in response to a question.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-us-china-trade-war-no-end-in-sight-220243/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The new government will need to look closely at what it can do to unleash growth and create jobs because India must tackle its own apparent economic slowdown, Alyssa Ayres, from the Council on Foreign Relations think tank, told PTI.

"Economists have long recommended structural reforms as the way to do that which would likely help India address the complaints from the US and others about difficulties of doing business in the country," Ayres said in response to a question.&nbsp;

Although the final results are yet to be declared and may hold some surprises, there are several issues that whoever comes to power would need to grapple with, observed Anit Mukherjee, a policy fellow at the Center for Global Development, a think tank in Washington DC.

But the broad theme would be on the consolidation of the gains of the past five years and ushering in some much-needed reforms to accelerate growth and reduce poverty, he said.

Noting that India's economy has gone through a period of consistent, if not spectacular, growth over the last five years -- this in spite of demonetization, GST, and the NPA and farm crises — Mukherjee said this provides a platform for higher growth in the next five years.&nbsp;

"But this will depend largely on how the government can steer the macroeconomy, streamline GST, address non-performing assets and mitigate the farm crisis," he said.

There will be headwinds&nbsp;oil prices are increasing, external trade environment is hostile, vested interests have scuttled plans to reform PSU banks, and the government does not seem to have much appetite to reform agricultural markets apart from announcing a cash transfer programme just before the elections, he added.

India, he said, is going through a rapid digital transformation. Aadhaar is now almost universal, its use is now pretty well defined following the Supreme Court judgement, Mukherjee said, adding that India's financial inclusion is now among the highest in the world (over 80 per cent), thanks largely to the Jan Dhan program; and mobile phone use is ubiquitous, serving a data-hungry population.&nbsp;

"So the building blocks of a digital economy is in place and India is poised to take a big leap in the next five years. The government needs to recognise that and bring policy and regulatory clarity, especially data sharing, trade in data services and privacy protection," he said.&nbsp;

Observing that India's rise as an economic power comes with responsibilities, Mukherjee said New Delhi would do well to learn the lessons from China, which is facing a backlash over its trade and investment policies, as well its domestic policies favouring large technology firms that are perceived as a threat (eg. Blacklisting of Huawei for 5G telecom equipment and Google's decision not to allow future Android OS updates to run on Huawei smartphones).&nbsp;

"India has so far refused to engage with the US and the EU on the global E-commerce and data governance architecture but it would do well not to be sidelined in the discussions," he said in response to another question.

"It is in everyone's interest that India becomes a hub of digital innovation and commerce, with a level playing field that does not discriminate in favour of any particular special interest group," Mukherjee said.

Exploring the possibility of developing India as an alternative in the midst of a US-China trade war, the American corporate sector eagerly looks forward to the election results and hopes that the new government adopts a "consultative process" in framing policies, experts say.

Exploring the possibility of developing India as an alternative in the midst of a US-China trade war, the American corporate sector eagerly looks forward to the election results and hopes that the new government adopts a "consultative process" in framing policies, experts say. "US companies are looking for transparency and consistency in the policy framework. They would appreciate a consultative process (in) framing policies," Mukesh Aghi, president of the US-India Strategic and Partnership Forum said, ahead of the declaration of the election results on May 23. India, Aghi asserted, has "a fantastic opportunity" to attract US and European\ companies as China trade relations get strained with its partners. "These companies would consider India if ease of business improves along with predictability, otherwise countries like Vietnam and Cambodia are successfully attracting these companies," Aghi said in response to a question. The new government will need to look closely at what it can do to unleash growth and create jobs because India must tackle its own apparent economic slowdown, Alyssa Ayres, from the Council on Foreign Relations think tank, told PTI. "Economists have long recommended structural reforms as the way to do that which would likely help India address the complaints from the US and others about difficulties of doing business in the country," Ayres said in response to a question. Although the final results are yet to be declared and may hold some surprises, there are several issues that whoever comes to power would need to grapple with, observed Anit Mukherjee, a policy fellow at the Center for Global Development, a think tank in Washington DC. But the broad theme would be on the consolidation of the gains of the past five years and ushering in some much-needed reforms to accelerate growth and reduce poverty, he said. Noting that India's economy has gone through a period of consistent, if not spectacular, growth over the last five years -- this in spite of demonetization, GST, and the NPA and farm crises — Mukherjee said this provides a platform for higher growth in the next five years. "But this will depend largely on how the government can steer the macroeconomy, streamline GST, address non-performing assets and mitigate the farm crisis," he said. There will be headwinds oil prices are increasing, external trade environment is hostile, vested interests have scuttled plans to reform PSU banks, and the government does not seem to have much appetite to reform agricultural markets apart from announcing a cash transfer programme just before the elections, he added. India, he said, is going through a rapid digital transformation. Aadhaar is now almost universal, its use is now pretty well defined following the Supreme Court judgement, Mukherjee said, adding that India's financial inclusion is now among the highest in the world (over 80 per cent), thanks largely to the Jan Dhan program; and mobile phone use is ubiquitous, serving a data-hungry population. "So the building blocks of a digital economy is in place and India is poised to take a big leap in the next five years. The government needs to recognise that and bring policy and regulatory clarity, especially data sharing, trade in data services and privacy protection," he said. Observing that India's rise as an economic power comes with responsibilities, Mukherjee said New Delhi would do well to learn the lessons from China, which is facing a backlash over its trade and investment policies, as well its domestic policies favouring large technology firms that are perceived as a threat (eg. Blacklisting of Huawei for 5G telecom equipment and Google's decision not to allow future Android OS updates to run on Huawei smartphones). "India has so far refused to engage with the US and the EU on the global E-commerce and data governance architecture but it would do well not to be sidelined in the discussions," he said in response to another question. "It is in everyone's interest that India becomes a hub of digital innovation and commerce, with a level playing field that does not discriminate in favour of any particular special interest group," Mukherjee said.

Amidst US-China trade war, American companies can shift focus to India: Experts

About 200 American companies are seeking to move their manufacturing base from China to India post the general elections, a top US-based advocacy group has said, observing that there is a fantastic opportunity with firms looking at alternatives to the Communist giant.

The US-India Strategic and Partnership Forum's (USISPF) President Mukesh Aghi said that the companies are talking to them about how to set up an alternative to China by investing in India.

Aghi said that USISPF's recommendation to the new government would be to accelerate the reforms and bring transparency in the decision-making process.

I think that's critical. We would advise to bring more transparency in the process and to make it more consultative because in the last 12 to 18 months, we are seeing US companies look at some of the decisions being made, either e-commerce or data localisation, as more domestic-oriented than global, he told PTI in an interview.

In his reply to what the agenda of the new Indian government should be to attract investment, Aghi suggested that New Delhi needs to accelerate reforms, be more transparent in the process and engage more.

We need to understand how we can attract those companies. And that means all the way from land issues to customs issues to being part of the global supply chain.

Those are critical issues. There's a whole plethora of reforms that need to go further down, and I think that is also going to create a lot of jobs, he said.

He said that Mark Linscott, the former Assistant US Trade Representative for South and Central Asian Affairs, is working with USISPF member companies to come up with a recommendation as to what India needs to do to enhance its exports and work up from that perspective.

One recommendation, which I strongly believe is going to help India is that we should now start thinking of a Free Trade Agreement (FTA) between India and the US," Aghi said.&nbsp;

"I think if India is concerned about cheap goods coming from China, an FTA will eliminate that need. You can put barriers to Chinese goods and still have the US Providing access to the Indian market and Indian companies having more access to the US market, and issues like GSP would diminish, he said.

Aghi said that they have formed a high-level manufacturing council within the member companies, led by John Kern, Senior Vice President of Supply Chain Operations at Cisco who are putting a document together detailing what India needs to do to turn it into a manufacturing hub.

"We plan to have the document ready by the time elections are over as part of recommendation," he said.

What they're saying is we want a backup strategy to start manufacturing in India. There are small-small issues, which can slow them down. And at the moment most of them are waiting for elections to be over.

But there's a large deluge of companies keen to not only manufacture in India but also who want to go after the domestic market, he said.

On the amount of investment these companies would bring to India, he said the number in question is substantial.

If you look at, our member companies in the last four years have invested over $ 50 billion, he added.

About 200 American companies are seeking to move their manufacturing base from China to India post the general elections, a top US-based advocacy group has said, observing that there is a fantastic opportunity with firms looking at alternatives to the Communist giant.

About 200 American companies are seeking to move their manufacturing base from China to India post the general elections, a top US-based advocacy group has said, observing that there is a fantastic opportunity with firms looking at alternatives to the Communist giant. The US-India Strategic and Partnership Forum's (USISPF) President Mukesh Aghi said that the companies are talking to them about how to set up an alternative to China by investing in India. Aghi said that USISPF's recommendation to the new government would be to accelerate the reforms and bring transparency in the decision-making process. I think that's critical. We would advise to bring more transparency in the process and to make it more consultative because in the last 12 to 18 months, we are seeing US companies look at some of the decisions being made, either e-commerce or data localisation, as more domestic-oriented than global, he told PTI in an interview. In his reply to what the agenda of the new Indian government should be to attract investment, Aghi suggested that New Delhi needs to accelerate reforms, be more transparent in the process and engage more. We need to understand how we can attract those companies. And that means all the way from land issues to customs issues to being part of the global supply chain. Those are critical issues. There's a whole plethora of reforms that need to go further down, and I think that is also going to create a lot of jobs, he said. He said that Mark Linscott, the former Assistant US Trade Representative for South and Central Asian Affairs, is working with USISPF member companies to come up with a recommendation as to what India needs to do to enhance its exports and work up from that perspective. One recommendation, which I strongly believe is going to help India is that we should now start thinking of a Free Trade Agreement (FTA) between India and the US," Aghi said. "I think if India is concerned about cheap goods coming from China, an FTA will eliminate that need. You can put barriers to Chinese goods and still have the US Providing access to the Indian market and Indian companies having more access to the US market, and issues like GSP would diminish, he said. Aghi said that they have formed a high-level manufacturing council within the member companies, led by John Kern, Senior Vice President of Supply Chain Operations at Cisco who are putting a document together detailing what India needs to do to turn it into a manufacturing hub. "We plan to have the document ready by the time elections are over as part of recommendation," he said. What they're saying is we want a backup strategy to start manufacturing in India. There are small-small issues, which can slow them down. And at the moment most of them are waiting for elections to be over. But there's a large deluge of companies keen to not only manufacture in India but also who want to go after the domestic market, he said. On the amount of investment these companies would bring to India, he said the number in question is substantial. If you look at, our member companies in the last four years have invested over $ 50 billion, he added.

About 200 US companies seeking to move manufacturing base from China to India: USISPF

us-india-strategic-and-partnership-forum-usispf

Us India Strategic And Partnership Forum (usispf), News on Us India Strategic And Partnership Forum (usispf), stories on Us India Strategic And Partnership Forum (usispf), articles on Us India Strategic And Partnership Forum (usispf), Us India Strategic And Partnership Forum (usispf) stories at Wion, Us India Strategic And Partnership Forum (usispf) news, Us India Strategic And Partnership Forum (usispf) latest news

us india-strategic-and-partnership-forum-usispf

Amidst US-China trade war, American companies can shift focus to India: Experts

About 200 US companies seeking to move manufacturing base from China to India: USISPF