Union Commerce Minister Piyush Goyal on Monday said that there are immense opportunities for American investors and companies to grow in various sectors and with India. Goyal was speaking at a roundtable organized by the US-India Business Council (USIBC), part of the US Chamber of Commerce and Nasdaq.
He also said that this is the right time for him to increase his engagement with the country.
“India-US relations are at an all-time high. Apart from strong bilateral ties, we are working together under platforms like Quad, I2-U2, IPEF etc., the minister was quoted as saying by news agency PTI.
Goyal was referring to the quad grouping India, USThe I2-U2 grouping of Australia and Japan, India, Israel, the United Arab Emirates and the United States and the Indo-Pacific Economic Framework for Prosperity.
In an official statement released by USIBC, the Commerce Minister said that “for US companies looking for ‘good times’, this is the time, this is the right time, to look to India and engage more with India.”
“There are limitless opportunities everywhere: from semiconductors to infrastructure to healthcare to manufacturing to innovation to renewables to defense and so on. I am confident that American industry will use these opportunities to grow in India and grow with India,” the statement read.
Meanwhile, Ambassador Atul Keshap, President of USIBC and Edward Knight, Executive Vice President of Nasdaq and Interim Chairman of the Global Board of Directors of USIBC, emphasized on how India’s G20 chairmanship this year and the United States’ focus on “buddy-noise”. presents an important opportunity to highlight. PTI reported the importance of the US-India economic partnership and a fertile backdrop for making historic progress on US-India trade issues.
The USIBC chief also said that as the United States and other like-minded democracies seek to strengthen their supply chains, India is an important friendly-cooperative partner.
Goyal is in Washington DC and will attend the 13th Trade Policy Forum (TPF) meeting on 11 January. He will also hold bilateral meetings with the following. US trade Representative Ambassador Catherine Tai.
The roundtable, titled ‘Friend-shoring and the US-India Trade Partnership: Forging Shared Economic Resilience’, was attended by executives from the supply chain and logistics, manufacturing, healthcare, digital economy and financial services sectors.
USIBC members hail Prime Minister Narendra Modi’s flagship National Logistics Policy as a “game changer” and a way to reduce the cost of doing business in the Indian market and unlock India’s potential as a global manufacturing and export hub. Highlighted as a major step.
Several USIBC members also indicated major new investments in India and plans to expand their manufacturing presence in the country.
(With PTI inputs)
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