India would take further initiatives for creating an environment conducive to investment flows, finance minister, Pranab Mukherjee has said.
Addressing the joint Indo-US Business CEOs Forum meeting in Washington, Mukherjee said his ultimate aim was to make India a vibrant economy attracting global capital as also trade. The forum saw high-level government participation from both countries. Eight CEOs from both sides attended the forum.
Mukherjee said the relationship with the US was one of the most important bilateral relationships for India today. He pointed to the fact that the two countries are currently negotiating a bilateral investment treaty.
Calling for an advance technology trade between India and the US, he said, "The trust that we have built through our 100 per cent compliance record in the safeguarding of imported technology should help us to increase our bilateral high technology trade.
"I am aware that this is currently under discussion and I would only underline that India has a record of being a trusted customer. I am sure that our governments should be able to work together to create the conditions for a win-win situation in advance technology trade between our two countries," he said.
Mukherjee said that steps were being taken to increase efficiency at the level of the government in India to ensure it was in step with the modern world. "As you no doubt know, we are in the process of a major reform of our direct and indirect tax systems. Our draft Direct Taxes Code is now available on the Web."