Apple CEO Tim Cook is learnt to have applauded demonetisation in his conversation with Prime Minister Narendra Modi and told him: “No one else in the world would have done that,” a top source told The Indian Express. Cook briefed Modi on the manufacture of the iPhone SE in India and development of an app accelerator, for which 100,000 app creators are in India. “This number will expand,” he is learnt to have told Modi.
Under the Make in India initiative, Cook said he was grateful for the cooperation in giving permission for the iPhone SE, which was done in “record time”. “Exporting those is the objective. Will go for Phase II of production,” he told Modi. He stressed his commitment to renewable energy. Apple’s operations in India will be run entirely on “renewable energy in a few months”, Cook is believed to have said.
Sources said Amazon CEO Jeff Bezos, during the meeting with CEOs, congratulated Modi on GST and thanked him for liberalising FDI in food. He said that about $300 million was exported from Amazon’s India operations, which was rapidly growing, mainly to the US and the UK, and smaller sellers have benefited.
Modi suggested Amazon’s participation in the Ahmedabad textile event on June 30 to take advantage of the global market and villagers’ skills in handicrafts. Bezos also informed that Amazon is working with National Skill Development Agency for vocational skills.
Writing an op-ed in the Wall Street Journal on Monday, Modi said bilateral trade, which already totals about $115 billion a year, is poised for a multifold increase. “Indian companies are adding value to the manufacturing and services sectors in the US, with total investments of approximately $15 billion and a presence in more than 35 states, including in the Rust Belt. American companies have likewise fuelled their global growth by investing more than $20 billion in India.”
“The transformation of India presents abundant commercial and investment opportunities for American businesses. The rollout of the Goods and Services Tax on July 1 will, in a single stroke, will convert India into a unified, continent-sized market of 1.3 billion people. The planned 100 smart cities, the massive modernisation of ports, airports, and road and rail networks, and the construction of affordable housing for all by 2022-the 75th anniversary of India’s Independence are not just promises of great urban renewal within India. These plans also showcase the enormous fruits of our relationships with enterprising US partners worth many billions of dollars over the next decade alone…” he wrote.