In a meeting between a senior official of the US Department of State and representatives of American companies, India's importance as a potential business destination was noted.
The US Department of State supports the idea that India may become an alternative investment destination for American companies after businesses move out of China due to the novel coronavirus, or COVID-19, pandemic.
In a meeting last week between a senior official of the US Department of State and representatives of American companies, India's importance as a potential business destination was noted, The Economic Times reported.
To track all live updates from the coronavirus pandemic, click here…
"India can quickly become a favourable jurisdiction for more of the industrial activities that are happening currently in China," Thomas Vajda, Assistant Secretary of State for South Asia in the US Department of State, said during a video conference.
Moneycontrol could not independently verify the report.
At the meeting, it was suggested that US-based companies request the Indian government to provide incentives to boost investment by American firms, the report stated.
"Government relations between the two countries will be supportive," Vajda said, as quoted by the publication.
Follow our full coverage of the coronavirus pandemic here.First Anniversary Offer: Subscribe to Moneycontrol PRO’s annual plan for ₹1/- per day for the first year and claim exclusive benefits worth ₹20,000. Coupon code: PRO365
