American firms invested over USD 16 Billion in 2 years in India: PM Modi

Washington, DC [US], June 24 : Addressing the US-India Strategic partnership forum (USISPF) on Friday in Washington, DC, Prime Minister Narendra Modi said that in the last two years, American companies have invested around USD 16 billion in India.

PM Modi said, "We have contained fiscal deficit and continuously increasing Capex. Our exports and forex are increasing. Besides, we are creating new records in the FDI. In the last two years, American companies have invested around USD16 billion in India."

Underlining that Indian companies are also investing billions of dollars in America, the Prime Minister said, "Indian companies are becoming global. The youth and farmers of America are benefiting from all this. This partnership of India and America is in the interest of both the countries and the people of both the countries."

"The governments of India and America have done the ground work for you. We will continue to do whatever is necessary for this, but now it is your responsibility to play freely and blossom on this ground and whoever plays will blossom. I am sure you will not leave any chance," PM Modi said.

Prime Minister Modi also emphasized the increasing demand in the aviation sector as Indian airlines are placing orders for numerous aircraft which is resulting in benefiting American companies as well.

He said, "To meet this demand, Indian airlines are placing orders for hundreds of aircraft, American companies are also benefiting from this. The partnership between India and America in the defence sector attained a new height during my visit. The entire House was congratulating President Biden for his vision. The Indo-US Defense Partnership is building a special kind of relationship with the people of each state. Apache helicopters manufactured in Arizona, Super Hercules of Georgia's C30s and others are strengthening India as well as America's defence and aero sector."

Furthermore, the Prime Minister also reiterated the strong bond between India and US and said that the partnership is forged with conviction.

Speaking at the US-India Strategic Partnership Forum (USISPF) event, he said, "I can confidently say that this partnership is not just of convenience but of conviction, of compassion and of shared commitment for a better future. The foundation of this partnership is you."

He said that the foundation of this partnership is the citizens of the United States and India while addressing the Indian diaspora.

"Another highlight of this partnership is the overwhelming support for India in the US, across party lines," said PM Narendra Modi.