India's Growth Story Creates Opportunities For US Businesses, Says White House

Asheville (US), Aug 31: The White House on Monday described India as a “dynamic, strong and resilient economy” after official data showed the country’s gross domestic product (GDP) grew by 7.8 per cent.

White House Senior Deputy Press Secretary Kush Desai said the latest economic figures reinforced the Trump administration’s view of India as a rapidly growing global economic power.

“India’s a very dynamic and very strong and resilient economy,” Desai told IANS in an interview on the sidelines of the G20 finance ministers’ meeting in Asheville, North Carolina.

Desai said India’s large market size and rapid economic expansion provide significant opportunities for American companies and investors looking for new markets.

“India’s obviously a very large economy,” he said, adding that it “represents a lot of opportunities” for American and global industries.

Calling India’s economic growth “a very exciting story”, Desai said the US administration was encouraging American companies to invest in India while also seeking increased Indian investments in the United States.

“The president and administration are very keen to grow and develop that bilateral trade and economic relationship,” he said.

Desai highlighted the importance President Donald Trump places on ties with India and referred to his personal relationship with Prime Minister Narendra Modi.

“The American Indo-Indian relationship is of very high importance to him,” Desai said, adding that Trump has often spoken about his friendship with Modi.

He expressed confidence that India and the US would continue to hold productive discussions on strengthening economic and strategic cooperation.

On the proposed India-US trade agreement, Desai said negotiations had moved from broad political understanding to detailed technical discussions.

“There’s obviously broad agreement at the leader-to-leader level,” he said.

He added that technical teams were working on finer details, including issues such as the Harmonised Tariff Schedule (HTS) codes used by the US to classify imported products and determine applicable customs duties.

“We’re very optimistic about that,” Desai said, adding that President Trump wanted a strong economic and political partnership with India.

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Desai said US Treasury Secretary Scott Bessent and other finance ministers at the G20 meeting would focus on restoring economic growth.

“A big topic of discussion is going to be restoring economic growth as the north star of the G20,” he said.

He added that discussions would explore measures to accelerate global growth, increase wages and improve living standards.

India and the US share a broad economic partnership covering trade, investment, energy, manufacturing and emerging technologies. Both countries also engage through platforms such as the G20 on issues related to financial stability and global development.

(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)