'Mini' trade deal expected during Trump's visit: CII

February 17,2020

With US President Donald Trump scheduled to come to India for two day official visit on February 24, industry body CII Director General Chandrajit Banerjee on Sunday said that there are high expectations of a bilateral "mini" trade deal being concluded during the upcoming presidential visit.

With US President Donald Trump scheduled to come to India for two day official visit on February 24, industry body CII Director General Chandrajit Banerjee on Sunday said that there are high expectations of a bilateral "mini" trade deal being concluded during the upcoming presidential visit.

In a statement, the CII Director General also said that the industry chamber expects a Trump interaction with leading Indian companies which operate in the US.

"Expectations remain high on achieving a bilateral 'mini' trade deal, which hopefully lays the foundation for a more comprehensive economic partnership," Banerjee said.

"As Indian industry enhances its investment and job creation in the US, we expect an interaction of President Trump with leading Indian companies operating in the US," he added.

According to CII research, at least 100 Indian companies have invested nearly $18 billion in the US, creating over 1,13,000 jobs.

Noting that there have been several recent announcements by Indian companies that have shown the growing impact Indian investment can have on the US economy and society, which is likely to rise, Banerjee said: "Likewise we expect investment even higher investment commitments from US companies into India."

He further said that the two leaders must demonstrate an ability to work together through challenges and differences and enable more convergence of our shared ambitions and goals.

"Finally, as we look to enhance international collaboration for the future, we believe both countries must work together to be at the leading edge of the frontiers of knowledge and technology. Artificial intelligence and machine-learning are transforming business and lives as we know it. We hope governments, industry and academia will come together in an effort to explore this further and co-create technologies for the future," he added.