New Indian Govt Needs To Ensure Predictability In Law, Policy: USIBC

"The passage of insurance bill has sent a very positive message. The effort to pass the land bill is being appreciated by us, because it has its own challenges, but the government especially the Prime Minister has not given up on that. He is trying to find the balance approach to the bill and make sure that it is passed," Aghi said.

Responding to a question, the USIBC president stressed the Indian government needs to ensure predictability.

"I think, predictability on the law, policy and bureaucracy is very important and a critical factor. We have to basically also have to ensure that the central government is working hand in hand with the state governments as well," he said.

U.S. businesses have time and again sought clarity and predictability on issues of policy and taxation in India.

"The sentiment is very high. I have never seen such a high sentiment among all the businesses in the country," Aghi added.

With the American economy picking up, Europe not in a good shape and the Chinese growth slowing down, Aghi said U.S. companies are "positively looking" at India.

The interest is in almost every sector -- infrastructure, insurance, technology and defence, Aghi added.

In the one month that he has been president of USIBC -- the most powerful and influential business council for the U.S. companies having a foothold in India -- Aghi said he has taken sector wise steps to identify and initiate measures to meet the goal of increasing the bilateral trade from USD 100 billion to USD 500 billion.
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