India's digital revolution offers investment opportunities to U.S., says Finance Minister

·1-min read
G20 finance ministers, central bankers and senior officials meet in Bali

NEW DELHI (Reuters) -India's digital revolution offers investment opportunities for U.S. companies and investors, the South Asian country's finance minister said on Wednesday.

"India's Open Network for Digital Commerce has revolutionised the retail and manufacturing sector," Nirmala Sitharaman said on Wednesday at a business conference in the Indian capital, adding that this offered business opportunities to foreign companies.

Sitharaman said she envisioned plenty of scope for collaboration in the digital sector between India and the United States.

The federal government was engaged with foreign investors to ease rules for more investments, she said. She did not provide details about the consultations.

Sitharaman also said the country was confident of handling the challenge of high inflation and that its economic revival was driven by government reforms.

Inflation in India has remained above the central bank's 2% to 6% tolerance band for several months, with consumer inflation at 6.71% in July.

(Reporting by Manoj Kumar in New Delhi; Writing by Shilpa Jamkhandikar; Editing by Muralikumar Anantharaman)