Donald Trump's India visit: Indian CEOs laud relaxed regulations in US
Close to a dozen chiefs of India Inc who met the United States President Donald Trump lauded him for relaxing regulations that improved the business environment. The President at the same time talked about his achievements during his Presidential term and pitched for his re-election.
Mukesh Ambani, chairman and managing director of Reliance Industries, said they were looking to invest close to $7 billion in the US. “We are the only Indian company that does not use Chinese components,” Ambani said, to which Trump quipped, “Huawei you mean?”
In May 2019, Trump ordered the blacklisting of Huawei, accusing it of aiding the Chinese government in espionage. The US government also banned the company from accessing US supply chains, which it needs to make its products.
Ambani also said Trump’s leadership inspired tax relief in India. “India followed the US model and the first time ever there was cut in the income tax,” he said.