At the 31st annual general meeting of the American Chamber of Commerce in India (AMCHAM), he also said the India-US bilateral trade is increasing at a healthy rate and both sides are looking to expand the trade four-fold to “touch $500 billion target by 2030”.
In February, Air India announced its plan to buy 470 planes from Airbus and Boeing, in one of the largest aircraft orders by an airline, valued at $80 billion.
“Boeing has received a very large order from the Tatas and I am given to understand that similar sized orders are in the pipeline… I want to see greater presence of Boeing in India, we would love to see you expand your local supply chains… and have more MRO (maintenance, repair and operations) activity here, which will serve the entire region,” Goyal said.
On Ajay Banga’s appointment as the World Bank president, Goyal said: “I am sure he will be able to bring the developing world perspective and a much more sensitive approach to the way World Bank operates and works”.
Banga is the first-ever Indian-American to head the global financial institution.
Goyal said there are huge opportunities to enhance cooperation in sectors such as defence, pharma, textiles, engineering, auto components, agri products, electricals, and that Alphonso mangoes are going to the US “in a big way”.He encouraged American companies to establish their base in India.