Donald Trump Jr says reforms during Modi’s regime are corrections in right direction1 min read . Updated: 21 Feb 2018, 11:47 PM IST
The reforms in India will boost confidence among foreign investors as well as consumers, says Donald Trump Jr, executive vice president, Trump Organization
Kolkata: At a time when the government is facing flak from the opposition for lapses in governance, Donald Trump Jr., the US president’s son, batted for Prime Minister Narendra Modi on Wednesday.
“Reforms (during Modi’s regime) are corrections in the right direction," Trump Jr. said in Kolkata, addressing the media. Earlier, promises were not kept, which would ward off investors from abroad, Trump Jr. said. “It will probably make things difficult for real estate developers to function in many respects, but good, it was time (to implement those changes)", he added.
These reforms will boost confidence among foreign investors as well as consumers because they now know “what they are buying is what they are going to get", according Trump Jr. who is currently visiting India—the biggest market for the Trump Organization outside the US.
In India, in partnership with the Trump Organization, local developers are building luxury homes with standardised facilities under the Trump Tower brand.
Trump Jr. was in Kolkata to launch an upscale residential project with 137 apartments being developed jointly by Unimark Group, RDB Realty and Tribeca Developers. The flats are priced at Rs4-6 crore each, according to the developers. The response to project has been “encouraging", and according to the developers’ website, 73% of the property has already been sold.
The Trump Organization is currently pursuing four real estate projects in India: one each in Gurugram, Kolkata, Mumbai and Pune.
Trump Jr., executive vice president, said the Trump Organization has voluntarily stopped pursuing new business opportunities to mitigate potential conflict of interest.
Trump Jr. said he first visited India a decade ago and learnt doing business “the hard way".