Modi Co-Opts U.S. Business In Remaking India

NEW DELHI: One thing that singularly defined Prime Minister Narendra Modi's high voltage U.S. visit was the open courting of American capital and his efforts to alter the narrative about India as an investment destination. In his individual and collective meetings with business leaders in New York and Washington, he pledged to take a series of steps in the coming months to ease doing of business in India.

Modi told them to invest in India before the queue became too long.

And he appears to have succeeded in persuading this weary but important group of interlocutors to transfer capital, technology and best practices as part of their investments in India. All indications emanating from the country are that his interactions are going to translate into several deals.

"India has the potential to be on a very different development trajectory" under the Modi-led government, says Ajay Banga, chairman of the U.S.-India Business Council, which has identified over $41 billion of investment in the next two to three years. And that's based on a survey of just 20 percent of members of the USIBC, which would meet on October 9 to discuss India's growth prospects under Modi at its annual Leadership Conference.
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