As per the fresh business reports, it is said that the United States has welcomed India’s decision to allow foreign direct investment (FDI) in the multi-brand retail sector. The report released by US authorities has said that such economic reforms will help to improve business-to-business ties between the two nations.
While talking to media, Mark Toner, an official of State Department said, “We welcome India’s decision. We think economic reforms, such as these, will further strengthen business-to-business ties between our two countries.”
According to him, “It’s going to create new economic opportunities and it’s also going to lead to more choices for Indian consumers.”
He said, “But we viewed this, as I said, as a way to deepen our economic ties with India.”
Further, the US-India Business Council (USIBC) said,”These bold reforms have heartened investors from the United States and elsewhere.”
USIBC said comprising around 400 of America’s and India’s high level firms seeking deeper commercial relations among the two countries.
The report issued by USIBC said, “The government’s bold resolve to move on these complex reforms serves as an assurance to investors that its economic liberalization agenda begun in the early 1990s is very much on track, even in the face of the global economic downturn.”
Doug McMillon President and CEO of Walmart International, one of the largest US chains of discount department stores said, “This change in policy is a good start to a win-win decision for all stakeholders, including the customers, farmers and the Government of India.”
“We’re confident that the government, after seeing the value we bring to India and its people, will view this opening as a first step in further liberalizing FDI in retail,” he added.
