US Assistant Secretary of Commerce David Fogel has expressed concerns that both the US and India are not doing enough in terms of trade and investment. In an exclusive interview, Fogel emphasized the importance of collaboration between the two countries, citing the potential for growth in sectors like critical minerals, pharmaceuticals, and automotives.
Fogel highlighted the challenges posed by overproduction from China and the need for allies in trade. He noted that the US and India have a long-standing relationship and that there is much opportunity for growth, but that they are not utilizing it to its full potential.
When asked about specific industries, Fogel mentioned critical minerals, semiconductors, pharmaceuticals, and automotives as key sectors for investment. He also praised Indian pharma companies for their interest in investing in the US, citing this as a strong suit for India.
Fogel emphasized that the US is a welcoming destination for business and foreign investment, citing a favorable tax regime, less regulation, and a stable capital market. He also highlighted the importance of the trade agreement between India and the US, stating that it could open up opportunities for more investment in the US.
However, Fogel acknowledged concerns about unpredictability in US tariff policies, particularly after the US Supreme Court's decision striking down President Trump's reciprocal tariffs. He assured that the US is committed to trade agreements and that countries are recognizing the benefits of mutual economic ties.
