US Commerce Minister Howard Lutnik has said that India’s main population has strong will and ambition and that is why its economy will always flourish. He underlined that President Donald Trump is deeply praised and respecting India and is going to be “good relations with each other” between the two countries.
Lutenik said in its main speech in the eighth edition of the US-India Strategic Partnership Forum (USISPF) leadership summit here on Monday that India is one of the most extraordinary economies.
He said, “The key to creating an extraordinary economy is the determination of the people. How concerned are your people being in business? How many entrepreneurs are they? How much they try to be better for their families?”
He said, “According to what I know about India, it is the inspiration and ambition in the main population of India, and that is why the Indian economy will always grow and flourish, because it is the basis of it and hence you can do the work in India, which many other countries cannot do.”
He said that President Trump thinks about ‘America first’, but he does not think of ‘only America’ or ‘only America’.
Lutenik said, “First of all, they have to take care of their country so that we can become big and strong, but after that they also have to take care of their colleagues. They have to ensure that they also keep in mind India, which they praise and respect a lot and respect and we will have very good relations.”
In response to a question asked about Indian talents in the US in the backdrop of discussions on visas and immigration, Lutenik said that the success of Indian entrepreneurs in America, leading and operation of many “great companies” of America by individuals of Indian nationality is because they are brilliant entrepreneurs, brilliant businessmen, intelligent, thoughtful and educated in every way.
He said, “But I think the normal path of immigration for America is changing. Trump card is coming out. I hope the Trump card will create a big opportunity for people to come to America.” They were referring to the US $ 5 million ‘Trump Gold Card’ on the lines of the Green Card, which will speed up the process of living and working in the US for foreigners.
Lutenik said that he feels that “we are going to be incredibly successful in India. So when people ask me, ‘When are you coming to India?’ So I say, ‘When I launch the Trump Card, I promise you that I will come to India. “
He said that it is a wonderful opportunity for people to be a part of two economies – Indian economy and American economy – and people will be able to come to America and participate in America.
He said, “This is the key. You can become like a green card holder, which is equal to it, it is a trump gold card. You can do it in this way and pay global tax, or you can keep everything the same as it is and only you can pay American tax on American assets, and you do not give anything to your global assets.”
He said, “And we would call it an international entrepreneur. It is a special category, and I think it will get a very good response among the great people of India who want to participate in it and who have the means of participating in the US.”
In response to the question whether America will make more efforts to promote manufacturing in India, Lutenik said that the US wants to bring back advanced manufacturing to America.
He said, “This is an important industrial platform for us to bring back domestic manufacturing and re -establish in the US.” He further said that there are many such product categories, which will “be happy to be in India.”
He said that there will be a trade agreement according to which the production of some types of industries will be good for India.
He said, “And in fact, there are a lot of industries that we want to bring to India. It happens that you make a business agreement that keeps India in a unique position because it will have a special relationship with the United States and some industries.”
He said, “India’s tariff relations will be better than other countries of the world, which means that India will be the beneficiary of such products.” He further stated that some products would have to be sent back to the US, but their place will create incredible opportunities for India, as India’s economy is one of the most extraordinary economies.
Asked if he sees opportunities for cooperation between India and the US in areas such as artificial intelligence, cyber security and emerging technology, Lutenik said, “Our idea is that we want to embrace our colleagues and our friends in a way that is much more open than the Biden administration, not even in the same hemisage.
He said, “Therefore we love our colleagues. We want our colleagues to participate in the AI revolution with us. And if India is interested in it, which is definitely, and he wants to create a huge data center and wants to be a part of that model, we are ready, willing, will, and are ready to adopt India as a partner and friend in that route.”
