August 22, 2019, 9:24

India May Replace China as Hub for US Business in Region – US Ambassador

India May Replace China as Hub for US Business in Region – US Ambassador

India May Replace China as Hub for US Business in Region – US Ambassador
AP Photo/ Gurinder OsanBusiness17:11 11.01.2018Get short URL152

NEW DELHI (Sputnik) – India may become a new alternative hub for US business in the Indo-Pacific region instead of China, which will be profitable both Washington and New Delhi, US Ambassador to India Kenneth Juster said on Thursday in his first speech in office.

The ambassador said that a number of US companies faced increasing difficulties while making business in the largest market in the region, which is China, and were looking for alternative markets.

“India can seize the strategic opportunity – through trade and investment – to become an alternative hub for US business in the Indo-Pacific region,” Juster said.

He pointed out that the countries would benefit from intensifying bilateral trade and investment relations.

“There are many benefits to growing our bilateral economic relationship and making India a regional hub for US business … Opening India’s market further to US trade and investment will spur our collaboration on many emerging technologies that will drive and protect our economies, including those related to advanced manufacturing and cybersecurity,” the ambassador said.

READ MORE: Old Rivals India, China Nurture New Rivalry in Satellite Launch Business

Juster said that boosting economic ties would allow the countries to increase flows of capital and to further share technologies.

“‘America First’ and “Make in India” are not incompatible. Rather, investing in each other’s markets will be mutually beneficial – it will increase our economic interactions and volume of trade, lead to collaboration on emerging technologies, and create jobs in both countries,” he added.

Juster has been heading the US diplomatic mission since late November 2017.


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