As per the latest news which comes both under international and national section, the US has asked India to pace up the economic reforms. The origin of this advice comes from the office of Joe Biden, the current Vice President of the United States. He has stressed that speeding of economic reforms in India is need of the hour so as to achieve positive business impact between two countries.
India and America are presently the two largest democracies in the world which are in process of their first commercial and strategic dialogue. The US has also asked India to get into co-operation in the area of climate change. India is being represented at the first India-US Strategic and Commercial Dialogue by Sushma Swaraj (External Affairs Minister) and Nirmala Sitharaman (Commerce Minister).
Mr. Joe Biden was commented, “We have plans to boost urbanisation and we are determined to provide affordable power and housing for all. We want to connect manufacturing in India with global supply chains and target to develop product based and service based industrial and governance platforms around Digital India.”
On the other hand Indian External Affairs Minister said, “”We see business between our two countries not simply as transactions, but as yet another manifestation and another multiplier of that very important strategic convergence. We hope this will be reciprocated by the businesses.”
This might come as a great hope to businesses like real estate which are under lot of stress. The expansion of businesses between two nations will definitely affect the market sentiment leading to growth and development of infrastructure. It could also mark the revival of dwindling state of property market in India.