Parul
As per news reports, a view from the US government’s Department of State is supporting that India could emerge as an alternative investment destination for US companies doing business in China in the aftermath of the coronavirus, covid-19 pandemic.
Some reports claim that in a meeting held between a senior official of the US Department of State and representatives of large American companies operating in India, through the American Chamber of Commerce in India underlined the importance of India as a potential destination for businesses shifting from China.
In fact, representatives of the several US-based companies have been advised to propose to the Indian government to offer incentives that would facilitate US businesses in India which would also create a ready environment for more businesses to come to the country.
Reports also claim that the Department for Promotion of Industry and Internal Trade (DPIIT) has set up a committee of joint secretaries from across ministries and other departments to reach out to the industries. In fact, Prime Minister, Narendra Modi has asked the state chief ministers to explore business investments from companies exiting from China.
