Meeting with Indian CEOs, Donald Trump says US govt committed to reduce 'regulations', will eye more overseas investments

  • During an interaction with the top business leaders in Delhi, he said a trade deal with India is in the works, but did not share any details

  • The governments, he said can only aid in creating jobs and it's private industry that actually creates jobs

  • Trump said the US also does business with other nations and wants other countries to be happy healthy and well

US President Donald Trump promised to reduce more regulations in his country as he looked for overseas investment to boost the American economy. During an interaction with Indian business leaders in Delhi on Tuesday, Trump said a trade deal with India is in the works, but did not share any details.

Stating that he is going to win the coming US presidential elections that will cause the markets to boom, he said his government has done a lot for the economy, healthcare and military.

On regulations in the US, Trump told a group of Indian business leaders that some of the regulations have to go through the statutory process, but his government is committed to reducing a "lot more regulations".

The high profile CEO roundtable with Trump included captains of the Indian industry such as Reliance Industries Chairman Mukesh Ambani, Mahindra Group Chairman Anand Mahindra, Wipro's Azim Premji, Tata Sons Chairman N Chandrasekaran, Aditya Birla Group Chairman Kumar Mangalam Birla and Infosys CEO Salil Parekh.

"It has been an honour to be here," he said on visiting India. "We just did a lot of business with India where they will buy helicopters worth $3 billion."

On Prime Minister Narendra Modi, he said, "He is a very tough man, but he is also a very nice man."

"We create jobs here, he creates jobs there (in the US)," he said.

The governments, he said can only aid in creating jobs and it's private industry that actually creates jobs.

On the forthcoming US presidential election later this year, Trump expressed the confidence that he would win. The US president said that his government has done a lot for the economy, healthcare and military.

"If I win, the markets (in the US) will jump thousands and thousands of points, if not the markets will crash. I feel we are going to win the elections. Democrats out of control," he said.

Trump said that China is working very hard to contain coronavirus outbreak and it looks like they are getting it more and more under control.

"China is working very very hard, I have spoken to President Xi they are working very hard. They had a rough patch and right now it seems they are getting it under control, they are getting it more and more under control so I think it is a problem that is going to go away," Trump said.

Asserting that the situation in the US is under control, Trump said the US also does business with other nations and wants other countries to be "happy healthy and well".

"Let us see how it works out but I think it is going to work out fine. I hope so. We are working very hard, we are spending a tremendous amount of money also ...about $2.5 billion on getting everything ready just in case something should happen and also helping other nations who are unequipped to do it," Trump added.

Earlier in the day, a letter of cooperation was signed between Indian Oil Corporation Limited and Exxon Mobil India LNG Limited and Chart Industries Inc, US.

With PTI inputs

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Updated Date: Feb 25, 2020 17:55:14 IST


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