Pune: Some of the big brands in the healthcare sectors are considering to expand their base in India and one of such brands is almost on the verge of announcement shortly, said David Wolfe, chairman of US-based investment bank Aaron Capital.
“To further smoothen their relations, India and the USA are making efforts to resolve their persisting bottlenecks,” he said on Saturday at the second annual DY Patil Lecture, organised by D Y Patil International University in Pune.
Healthcare sector is the one where India is not up to the mark which makes a huge potential for investment by the global investors and hence some of the big brands in the healthcare sector in the US are coming to India, he added.
On bilateral trade, India and the US are making efforts to resolve their persisting bottlenecks including tariff and non-tariff barriers, complex custom clearance procedures, intellectual property rights and data localisation issues, Wolfe said.
The bilateral trade relationship between India and the US has expanded over the years. During FY23, the US was top destination of Indian exports to the world and third source of India’s imports from the world. Further, India’s exports to the USA stood at $78.5 billion in 2022-23 and its imports from the USA were $50.2 billion, he said.
Additionally, to enhance economic and trade cooperation between India and the US, multiple dialogue mechanisms have been established including the ministerial-level economic and financial partnership, the ministerial trade policy forum established in 2005 and the bilateral India-US CEO’s Forum (2005) which encourages private sector involvement in discussions on trade and investment issues.
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