India’s economic trajectory continues to receive strong praise from world leaders. US Secretary -Secretary for Trade Howard Little praised the country’s growth history and emphasized the unique entrepreneurial spirit that moved his forward.
“India has an extraordinary economy. What makes the economy great is the definition of people. From what I know about India, they have such a desire. That is why their economy will always grow,” Lutnik said in a recent statement, emphasizing the long-term world markets and optimism.
The Cantor Fitzgerald CEO emphasized that the combination of India ambition, innovation and performance power distinguishes it. “You can do things in India you can’t do elsewhere,” he said, referring to a large digital transformation, a start-ups and state cooperation that causes India’s economic expansion.
However, Lutnik said that some of India’s latest geopolitical decisions, such as prolonged military ties with Russia and coordination with BRICS, did not go well with the United States. Speaking at the eighth edition of the US-Indian Strategic Partnership Summit (USISPF), Lutnik said these steps “rubbed the United States wrong”, even when it made an optimistic tone about the future of bilateral ties.
“The Indian economy is extraordinary, your potential of human capital is amazing, your height is amazing. But, you know, there were certain things that the Indian government did, which usually rubbed the United States wrong,” said Lutnik, acknowledging both admiration and disappointment.
He specifically pointed out for many years of purchase in India in Russia. “This is a way to come under the skin of America,” Lutnita said, but added that India now seems to move toward US-steal military equipment, which he thinks can significantly improve bilateral relations.
Lutnik also indicated the role of India in BRICS BLOC (Brazil, Russia, India, China and South Africa), which floated ideas to reduce the US dollar dependence. “This is not really a way to make friends and influence people in America,” he said, believing that such positions could strain the connections.
However, Lutnik emphasized that both sides are actively working on these issues. “Put it on the table, turn to it straight, decide it straight and get to a really good place. And I think that’s where we are there,” he said, noting that former US President Donald Trump takes India and believes that the two countries are ready for a strong partnership.
Lutnik hinted at the possibility of a US and India trade agreement in the near future, saying that both parties finally “put the necessary people” at the negotiating table. “You have to wait for the transactions between the US and India in a not too far future,” he said, calling the atmosphere “very optimistic”.
He also called the high tariff structure of India as an obstacle. “India is very protectionist with tariffs. They have a 100% tariff for this, and 100% tariff for it. And if you ask them, the answer is:” I don’t know why it’s just, “Lutnik said.
