THE core populationofIndiahas drive and ambition and that’s whyitseconomywillalwayscontinue to thrive, US Commerce Secretary Howard Lutnick has said, underlining that President Donald Trump deeply admires and respects India and the two countries are going to have a “great relationship together.” India has one of the most extraordinary economies, Lutnick said in his keynote address at the eighth edition of the US-India Strategic Partnership Forum (USISPF) Leadership Summit here on Monday. “The key that makes an extraordinary economy is the determination of the people. How much do your people care about being in business? How entrepreneurial are they?

 

How much do they drive to be better for their families?” he said. “From what I know about India, the core population of India has that drive and ambition, and that’s why the Indian economy will always continue togrowandthrivebecause ithas thatfrom the underpinning and soyoucandothings inIndiathat many other countries, you just can’t get done.” He addedthatwhilePresident Trump thinks ‘America first’, he does not think ‘America only’ or ‘America exclusively’. “First, he’s got to take care of homesowe’rebigandstrong,but thenhe’s going totake careofhis allies. He’s going to make sure he takes care of India, who he deeply, deeply admires and respectsandwearegoingtohave agreat,greatrelationshiptogether,” Lutnick said. Responding to a question on Indian talent in the US against thebackdropofongoingvisaand immigration discussions, LutnicksaidthesuccessofIndian entrepreneurs in America, individualsofIndiannationalityleading and running so many of the “great companies” of America “becausethey’refantasticentrepreneurs,fantasticbusinesspeople, smart,thoughtful, educated in every way. “But I think the ordinary path of immigration for America is changing.

 

The Trump Card is coming out. I expect the Trump Card will create really an enormous opportunity for people to have the ability to come to America,” he said, referring to theUSD5million‘TrumpGold Card’, on the lines of a Green Card, that will fast-track the process for foreigners to live and work in the US. Lutnick said he feels “we are going to be incredibly successful in India. So when peopleaskme,‘Whenareyoucoming to India?’ I’d say, ‘When I launchtheTrumpCard,Ipromise you I’m coming to India’.” He said it’s a wonderful opportunity for people to be part of two economies - the Indian economy and the American economy, and people will be able to come to America and participate in America. “Here’s the key. You can become like a greencardholder, the equivalent of it, it’s the Trump Gold Card. You can do it that way and pay global tax, or youcankeepeverything the way itis and just pay US tax on US assets, and you pay nothing on your global assets and no inheritance tax, and none of that kind of stuff either.

 

“It will have a better tariff relationship than most other countries in the world, which means India will be the beneficiary of those kind of products,”hesaid,addingthatsome will need to be reshored to Americabutthey’llbereplaced withincredibleopportunityfor India, which has one of the mostextraordinaryeconomies. EXPECT INDIA-US TRADE DEAL IN NOT-TOO-DISTANT FUTURE: US COMMERCE SECRETARY HOWARD LUTNICK : SECRETARY of CommerceHowardLutnickhas said one should expect a trade deal between India and theUS in the “not-too-distant future” asthetwocountrieshavefound a place that works for them. “Sotheideaiswhentheyput the right person and India put the right person on the other side of the table, and we’ve managed, I think, to be in a very, very good place,” Lutnick said in his keynote address at the eighth edition of the USIndia Strategic Partnership Forum (USISPF) Leadership Summit here Monday. “And you should expect a dealbetweentheUnitedStates and India in the not-too-distant future because I think we found a place thatreally works for both countries,”