USIBC honours Arun Jaitley in New York, looks forward to working with India Inc.

The U.S.-India Business Council (USIBC) has honoured Union Finance Minister Arun Jaitley at a reception in New York, with the association expressing its deep optimism in the bilateral economic relationship between New Delhi and Washington DC.

"One year in and Prime Minister Modi and his government have begun to get India on the front foot with lower inflation, a reduced deficit, higher levels of foreign direct investment, and more. Reforms once thought to be insurmountable are now on the table. Going forward, USIBC members want to help India do the things it needs to do to meet its growth targets: create jobs, boost manufacturing, build up infrastructure, and generate tourism," said USIBC chairman Ajay Banga.

"Trade between India and the U.S. currently stands at a little more than US $100 billion. Obviously, there is potential to do much more in the U.S-India bilateral trade relations to ensure that this number grows five-fold. The past year has seen a positive affirmation for Prime Minister Modi's Minimum Government, Maximum Governance agenda from investors across the board," added USIBC president Mukesh Aghi, who also expressed his enthusiasm in working with Prime Minister Modi and Jaitley in the future.

Jaitley, who is currently on a nine-day visit to the United States, will hold meetings with Foreign Institutional Investors (FII) and top CEOs of American financial companies during his stay.