On the second & the last day US President Donald Trump‘s visit to India, he interacted with top Indian Industrialists including RIL’s Mukesh Ambani, Aditya Birla Group’s Kumar Mangalam Birla and Tata Group‘s N. Chandrasekaran amongst others at the business round table event organized at the US Embassy.
Trump invited the industrialists to invest billions of dollars in the US to reap the benefit of tax and regulation cuts that his administrations have implemented.
He said,
If you would like to ask some questions and find out how much you should invest in the United States of America, I’ll tell you exactly where to invest, and how to invest. We just did a lot of business with India.
During the interaction, Mahindra said that his company had made an investment of $1 billion and had shortlisted for producing over 100,000 postal delivery vans. Once the bid would be confirmed in August, the company would invest another $1 billion in the venture, Mahindra said. To which Trump wished him good luck.
Trump had a lot of good things to say about Lakshmi Mittal, for what his firm has done in the US steel industry. He said,
The steel industry was dead in our country. There are a lot of industries you could do without, but steel you need from a military (point of view), and aluminum you need. The job you have done is incredible.
Reliance Industries Chairman Mukesh Ambani talked about the US energy sector and its achievements in the Indian telecom sector.
Kumar Mangalam Birla went on to talk about two recent acquisitions by his company in the United States. Birla also talked about investments by the Aditya Birla Group in aluminum production.
While thanking the Indian industry for creating jobs in the US, Trump acknowledged that the government can only aid in employment generation, but it is the private industry that actually creates jobs.
Trump also talked about the US President’s re-election which is scheduled to happen this year in November. He also emphasized that his re-election will swell the stock markets, while a defeat will lead to a massive crash.
