US companies see India as potential source to deal with scarce supply chain: President-CEO of USISPF
Jun 24, 2023
Washington DC [US], June 24 : Following Prime Minister Narendra Modi's address to US-India Strategic Partnership Forum (USISPF) at Kennedy Center in Washington DC, the forum's President-CEO has underlined India's geopolitical importance in fulfilling the shortage of supply chain.
Mukesh Aghi, President-CEO of USISPF also noted that many US companies were looking at India as an important country to invest in and deal with a scarce supply chain.
The President-CEO of USISPF also said that the world will take benefit from India and the US strategic partnership.
After PM Modi's address to the forum, in an interaction with ANI, President-CEO of USISPF, Mukesh Aghi said, "This was a historical, pivotal moment...He said that the partnership between India and the US is going to benefit the world. So, to me, this was a great event, a great visit of the PM..."
"...You have to also understand that geopolitically, both countries are aligned vis-a-vis China. Lot of US companies are saying, how do we deal with a scarce supply chain and they are looking at India as a potential source of that..," Aghi added.
Jenelle Krishnamoorthy, Vice President of Merck (Pharmaceutical giant) was among those who attended PM Modi's address at Kennedy Center. He said that nothing was better than the two best democracies coming together.
After hearing PM Modi at the USISPF event, Krishnamoorthy said, "It was just lovely to see India and America getting closer to come together to tackle the world's problems. Two of the best democracies are coming together, nothing can be better than that."
At the USISPF event, PM Modi said that in the last two years, American companies have invested around USD 16 billion in India.
PM Modi said, "We have contained fiscal deficit and continuously increasing Capex. Our exports and forex are increasing. Besides, we are creating new records in the FDI. In the last two years, American companies have invested around USD16 billion in India."
Underlining that Indian companies are also investing billions of dollars in America, the Prime Minister said, "Indian companies are becoming global. The youth and farmers of America are benefiting from all this. This partnership of India and America is in the interest of both the countries and the people of both the countries." Prime Minister Modi also emphasized the increasing demand in the aviation sector as Indian airlines are placing orders for numerous aircraft which is resulting in benefiting American companies as well.
Prime Minister Narendra Modi has concluded his US visit, where he took part in a series of events.
"Concluding a very special USA visit, where I got to take part in numerous programmes and interactions aimed at adding momentum to the India-USA friendship. Our nations will keep working together to make our planet a better place for the coming generations," tweeted Prime Minister Narendra Modi.
After his address at Kennedy Center, the Prime Minister interacted with the Indian diaspora at the Ronald Reagan Building in Washington DC.
Following his interaction with the Indian diaspora at the Ronald Reagan Building, PM Modi emplaned for Egypt for a two-day visit to the Arab nation.
