Goyal-Gina Discussed Opportunities To Increase US Investments In New India Industrial Cities
FinTech BizNews Service
Mumbai, 3 October, 2024: The India-U.S. CEO Forum, chaired jointly by Union Minister of Commerce and Industry, Government of India, Shri Piyush Goyal, and US Secretary of Commerce, Ms. Gina Raimondo was held today in Washington D.C., USA.
The India-U.S. CEO Forum convened as a platform to allow private sector members to develop and provide recommendations to the Indian and US governments that reflect the private sector’s views, concerns and suggestions about the creation of an environment in which the bilateral economic links are strengthened. The Forum works in tandem with, and provides inputs to, government-to-government U.S.-India Commercial Dialogue.
The Forum is co-chaired from Private Sector by Mr. N. Chandrasekaran, Chairman, Tata Sons, and Mr. James Taiclet, President and Chief Executive Officer, Lockheed Martin. This is the third time the Forum has been convened since its reconstitution in November 2022 by the Governments of India and the USA and saw participation from 16 CEOs. Both governments appreciated the Forum’s progress on initiatives and its achievements over the past two years.
The CEOs, under the seven working groups, presented priority areas to create stronger partnerships and boost growth across various critical areas such as Entrepreneurship and Promoting Small Businesses, Healthcare and Pharmaceuticals, Aerospace and Defence, ICT and Digital Infrastructure, Energy, Water and Environment, Infrastructure and Manufacturing, Financial Services, Trade and Investments, among others.
Both sides deliberated on the progress made as of the last meeting of the Forum in March 2023, including the launching of innovation handshake and a knowledge sharing platform called NIHIT (Network for Innovation and Harnessing Investments and Trade).
Piyush Goyal co-chaired the India-US CEO Forum alongside US Secretary of Commerce Raimondo. They engaged in discussions on enhancing cooperation across key sectors such as defense, semiconductor manufacturing, clean energy, space and science, healthcare, and academia-industry partnerships. India and the US remain dedicated to strengthening economic ties, promoting growth and collaboration between businesses in both countries, and paving the way for a prosperous future.
Government representatives and CEOs reaffirmed their commitment to strengthening commercial and trade ties, driving economic growth and innovation, and fostering a resilient bilateral partnership.
Earlier during the day, Minister Goyal began his third day of the U.S. tour with the offering of a floral tribute at the Mahatma Gandhi Memorial across the Embassy of India in Washington D.C. in remembrance of his 155th birth anniversary.
The Minister of Commerce and Industry met with the U.S. Secretary of Commerce Ms. Gina Raimondo over a luncheon meeting and discussed areas of mutual interests. They discussed the pathway for strengthening bilateral cooperation in critical minerals supply chains as recommended by the US-India CEO forum. They also discussed opportunities to increase US investments in India especially in some of the new industrial cities being planned in India.
Union Commerce and Industry Minister, Shri Piyush Goyal held important meetings with business leaders and Indian diaspora in New York.
On day two of the visit to the United States of America (USA), Minister Goyal met leading investors including Chief Operating Officer, BlackRock, Mr. Robert Goldstein; Chairman and CEO, Systems Technology Group, Mr Anup Popat; CEO, Tillman Holdings, Mr Sanjiv Ahuja; CEO, C4V, Mr Shailesh Upreti; and CEO Janus Henderson Investors, Mr Ali Dibadj. During the meetings Minister Goyal discussed opportunities for collaboration to position India as a global manufacturing hub and invited the investors to increase their commercial and trade footprints in India, while also garnering suggestions and ideas from the leading business experts towards furthering ease of doing business.
Minister also interacted with a young entrepreneur of Indian origin Mr Dev Pragad, CEO Newsweek, who is making huge impact & positive contributions in the world of media.
A luncheon meeting was held with the members of US India Strategic Partnership Forum (USISPF) during which the Minister emphasized the government’s commitment to improving ease of doing business, infrastructure development, IPR reforms, and prioritising manufacturing sectors through appropriate incentive schemes. Investors expressed optimism about the new policies aimed at innovation, job creation and sustainable industrial growth.
During the course of the day, members of Indiaspora, a nonprofit organization, and the Institute of Chartered Accountants of India (ICAI)chapters from New York, New Jersey, Philadelphia, and Washington D.C. also had an engaging discussion with the Minister. The discussion focused on the global strength of the Indian diaspora and the vast opportunities it can unlock for India’s growth and development.
An insightful engagement with key business leaders from the Gems and Jewellery industry in New York, a global epicentre for the sector was organised by the Consulate General of India (CGI), New York. The Minister highlighted India’s strengths as a major player in the global market, emphasising the potential for enhanced collaboration, investment, and innovation that could further drive growth in this sector. This interaction marks a significant step in fostering stronger ties between the two markets, unlocking new avenues for mutual benefit and development.
