NEW DELHI, 18 February, 2021 (TON): While delivering the inaugural virtual address at the annual conference of USIBC State of US-India Business, India’s Commerce and Industry Minister Piyush Goyal said that trade between India and the US has grown exponentially, but there is a lot more to be desired. 

He said, that the US and India complement each other. 

Mr. Goyal said India is a region that has a large market to be served whereas, the US offers technology, finance, and innovation.

The minister, however, said that at the same time, there is a need to protect people in agriculture and protect the citizens from low-quality products. 

He said emphasizing at a fair dealing in their engagement, that India provides an under-served aspiring market. The minister said that the US will have to be very sensitive to price points in India, which matter to emerging economies with millions of people just coming out of poverty. 

Inviting businesses in the U.S. to look at India as a manufacturing base, Goyal stressed that from here, they can serve a large Indian market and at the same time, also serve global markets through cost-competitive products.