Commerce minister highlights significant growth of India-US economic relations
Nov 10, 2022
New Delhi [India], November 10 : During the virtual India-US CEO Forum on Thursday, Commerce Minister Piyush Goyal highlighted the significant growth of the India-US economic relations, driven by the common interest of promoting sustainability, emerging technologies, globally resilient supply chains, and small businesses.
During the forum, which was jointly chaired by Piyush Goyal and US Secretary of Commerce Gina Raimondo, India's commerce minister reiterated the importance of such dialogues in leveraging this momentum. According to a commerce ministry statement, Secretary Raimondo thanked Piyush Goyal, co-chairs and CEO forum members for their participation and insightful identification of common focus areas that will further bolster the bilateral partnership between the two nations.
According to the statement, chief executive officers (CEO) from both sides commended the two governments for implementing transformative reforms and initiatives undertaken to strengthen bilateral cooperation.
The CEO Forum, comprising CEOs from leading Indian and US-based companies, is co-chaired by N Chandrasekaran, Chairman of Tata Sons and James Taiclet, President and Chief Executive Officer, Lockheed Martin.
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, health care and pharmaceuticals, aerospace and defence, information and communications technology (ICT) and digital Infrastructure, energy, water and environment, infrastructure and manufacturing, financial services, trade and investments, among others, according to the commerce ministry statement.
This ministry of commerce also said dialogue would serve as the framework under which specific recommendations will be charted out during the sixth edition of the India-US CEO Forum, due to be held early next year.
This is the sixth time the Forum has been convened since its reconstitution in December 2014 by the governments of India and the US.
The ministry statement said the Forum continues to be an effective platform for dialogue across key sectoral themes and to identify areas for closer collaboration for mutual benefit of both economies. Senior government functionaries, including Taranjit Sandhu, the Indian Ambassador to the US, also participated in the meeting.
