India

Modi makes a business pitch that American businesses can't refuse

28 Jun 2017 | By Anish Chakraborty
Modi wants more American investment, US businesses agree

Modi's first US tour under Trump regime had him woo investors and then in the role reversal, get wooed.

The agendas were predetermined. Modi wants more American investment for India and he's flaunting the facilities that government would provide along with benefits of the new tax regime, while American businesses want to tap into Asia's second largest economy.

Here's all you need to know.

In context: Modi wants more American investment, US businesses agree

28 Jun 2017Modi makes a business pitch that American businesses can't refuse

SalesmanSales pitch like no other

Modi called and Silicon Valley answered. His meeting had the who's who of American businesses.

Total 21 CEOs including Apple's Tim Cook, Amazon's Jeff Bezos, Microsoft's Satya Nadella, Adobe's Shantanu Narayen, Walmart's Doug McMillon, Google's Sundar Pichai and Deloitte Global's Puneet Renjen participated in it.

This high profile meeting had one agenda on the table - Let's talk doing business in India.

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Jeff Bezos is sold on the Indian investment pitch

Jeff BezosJeff Bezos is sold on the Indian investment pitch

The meeting was apparently a resounding success and all were effusive. Amazon CEO Jeff Bezos updated on Twitter- "Terrific meeting with @narendramodi. Always impressed, energized by optimism and invention in India. Excited to keep investing and growing."

Bezos has already invested millions in capturing India's e-commerce scene and now with renewed vigor from this meeting, he will invest further with full gusto.

Tim CookApple knows where it makes its money from

India is the world's third largest smartphone market and is still growing. Apple's CEO Tim Cook took this opportunity to share with Modi, how Apple plans to run its Indian operations on renewable energy within six months.

Cook said Apple had generated 740,000 jobs in India via "app economy" and there are around 100,000 apps available in the App Store, created by Indian developers.

BusinessModi knows how to do business

Prime Minister Modi too had his hands full. In a WSJ article, he mentioned that India now presents abundant commercial and investment opportunities for American businesses.

After the rolling out of GST, India will become one big unified market of 1.3 billion people and if American businesses invest in such a humongous market, they can be assured to make sizeable profits in return.