The Challenge for India and Modi – Resetting the Indian economy to attract
Financial ServicesTrade & Investment
First 15-20 minutes is for networking Sandwiches and beverages included Hosted by the Financial Services Committee and Trade & Investment Committee
India's new Prime Minister Narendra Modi and his Bharatiya Janata Party (BJP) swept into office in a landslide election in May with a mandate for reform and focus on the economy. The AmCham Trade and Investment Committee, beginning with the event, will be putting a new emphasis on understanding and engaging India over the next 6 months as the new government implements its policy platform.
Given Modi's pro-economic development campaign rhetoric and pro-business management of Gujarat, his government has the potential to reset the Indian economy to attract foreign investment.
However, India is currently at risk of stagnation in trade development and economic growth. It has a thin network of free trade agreements (FTAs) which either only cover trade in goods (ASEAN, SAARC), or do not effectively promote trade in services (Japan and Korea). The government has done little to increase exports and manufacturing in Bangladesh is considered far easier. Despite participating in trade negotiations with China, ASEAN, Japan, Korea, Australia, and New Zealand and the EU, India's notoriously reticent trade policy places it on the margins of the trend towards regional FTAs. As China accounts for close to half of India's trade deficit, creating non-China options for India's tradable goods appears urgent.
Modi is in a strong political position and can act decisively at the federal level. The electorate has high expectations for early results, no easy matter in an enormous country strangled by red tape. What are the implications for business? What should companies with an interest in India consider as they map out an early outreach strategy? How should investors work with the new government to maximize the scope for private sector participation? Please join our lunch time event to explore these issues and more.
The American Chamber of Commerce in HK 1904 Bank of America Tower 12 Harcourt Road Central, Hong Kong