Indian IT companies may find it more convenient to operate in the US as the country is going to ease the regulations further in the coming months. In a reply to the challenges raised by BVR Mohan Reddy of Cyient, the US President Donald Trump said that in another 7-8 months, the regulations for the technology companies will be easier. He added that his government started to cut regulations but they have to give notice, however, they are in process. On other hand, Donald Trump further added that they need to have regulations due to the statutory process.
The US President today met the leaders of India Inc where the Indian industrialists and businessmen hailed America's policies, reforms and tax cuts. In a conversation with Lakshmi Niwas Mittal, CEO of ArcelorMittal, Trump said that he is doing an incredible job to revive the steel sector in the US. He underlined that the steel industry was almost dead in his country which was dangerous as you need to have steel more than anything else. Lakshmi Niwas Mittal also announced to invest a billion dollars in Alabama.
Speaking about the ease of doing business in the US, President Trump said that the conditions three years before were very bad when the businessmen could not get approval and the companies were sued for environmental reasons.
Among the other businessmen who met Donald Trump in his maiden state visit to India, Natarajan Chandrasekaran, Chairman of the Board of Tata Sons, appreciated tax cuts and favourable regulations in the US. Trump further added that the government can only aide in creating jobs but it is the private industries that actually create jobs.