Piyush Goyal, counterpart Gina Raimondo reviewed India-US CEO Forum
Dec 01, 2023
New Delhi [India], December 1 : Union Commerce Minister Piyush Goyal and US Commerce Secretary Gina Raimondo have reviewed the India-US CEO Forum virtually, officials said on Friday.
In the meeting that was held on Thursday, Goyal highlighted the growing convergence of perspectives and strategic interests of the two nations, emphasising the role of initiatives like the QUAD, Indo-Pacific Economic Framework for Prosperity (IPEF), and the I2U2 grouping in fostering regional and global cooperation in critical and emerging sectors, a statement from the Commerce Ministry read.
Goyal encouraged the industry to leverage platforms like the Semiconductor Supply Chain and Innovation Partnership, Innovation Handshake, India-Middle East-Europe Economic Corridor, and Global Biofuels Alliance and explore collaborative opportunities.
Additionally, Minister Goyal acknowledged the valuable contributions made by the Forum members, which have guided the government to undertake concrete reforms including doubling of the export value threshold for courier customs clearance and the inclusion of a separate chapter on e-commerce in Foreign Trade Policy, among others.
As per the release, he welcomed some of the industry-led initiatives such as NIHIT (www.nihit.org), a nationwide capacity-building endeavour for small businesses, startups, and MSMEs and FIST (Framework for Integrity, Security and Trust).
Secretary Raimondo thanked Minister Goyal, the co-chairs, and forum members for their efforts over the past year.
She underscored the profound impact of Prime Minister Narendra Modi's visit to the US and President Biden's visit to India during the G20 summit, highlighting these events as milestones in strengthening bilateral ties.
Additionally, she urged the CEO Forum to seize the current momentum and implement the pivotal recommendations outlined by the Forum members. Secretary Raimondo also announced the inclusion of four new members from the US industry, including Honeywell, Pfizer, Kyndryl, and Viasat as part of the CEO Forum.
The Forum, comprising CEOs from leading Indian and US-based companies, is co-chaired by N Chandrasekaran, Chairman, Tata Sons, and James Taiclet, President and Chief Executive Officer, Lockheed Martin.
Government representatives and CEOs from both sides reaffirmed their commitment towards efforts that will strengthen commercial and trade ties, laying the groundwork for concrete initiatives to be unveiled at the upcoming CEO Forum meeting in early 2024, the release added.
