India and US are Complementary Economies, Natural and Trusted Partners; Its a Great Time for Collaborations

· India Looks to Expand Trade Ties with Transparent Economies, two FTAs Signed in 2022, more in Pipeline

· Mr. Goyal Holds Discussions with several CEOs on Investment Partnership, participates in Roundtable discussions with Council on Foreign Relations and with US-India Business Council at Nasdaq, visits Tata Innovation Center in New York

Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal is on a three-day visit to the United States from 9-11 January 2023.

Commerce and Industry Minister, Piyush Goyal addressed two roundtables on January 09 (Monday) in New York: At the Council on Foreign Relations (CFR); and hosted by the U.S. – India Business Council (USIBC) at Nasdaq. The discussion at CFR was moderated by Amb. Kenneth Juster and was attended by stakeholders from the industry, academia and think tanks. The Roundtable hosted by the USIBC at Nasdaq was moderated by Amb. (Retd.) Atul Keshap, President, USIBC, was attended by Executive Vice Chairman, Nasdaq and Chairman USIBC Global Board of Directors, Mr. Edward Knight, as well as several leaders from the US business community. At these Roundtables, CIM gave an overview of the overarching reforms undertaken in the country in the recent years and remarkable transformation of business ecosystem in India. He invited the U.S. industry to make use of the limitless opportunities in India especially in sunrise sectors such as EVs, semiconductors, battery technology, etc. He noted that the India-US bilateral relations have been at an all-time high; and there exists huge potential to further strengthen the commercial ties, given the shared strategic priorities and complementary strengths of the respective economies.

Earlier in the day, Piyush Goyal visited Tata Innovation Center, a partnership between TCS and Cornell Tech in New York, acting as a bridge between academia and industry. It was established in 2017 after a contribution of $50 million by TCS and focuses on artificial intelligence and data analytics. CIM was welcomed by Mr. Suresh Muthuswami, Chairman of TCS North America. Virtual reality-based 3D immersive content was demonstrated to HCIM on a live surgical procedure. CIM appreciated the contribution of Indian companies to the U.S. technology sector, adding to mutual competitiveness and productivity.

During the course of the day, CIM met and held extensive discussions with several CEOs of leading companies, including Mr. Michael Miebach of Mastercard; Mr. Henry R Kravis, Co-Founder and Co-Executive Chairman of KKR (Kohlberg Kravis Roberts & Co); Mr. Josh Silverman, CEO of e-commerce platform Etsy; Mr. Stephen A Schwarzman, CEO of asset management group, Blackstone; and Mr. George R. Oliver, CEO of Johnson Controls. CEOs, in their discussions, complimented the bold economic reforms undertaken by India under the leadership of Prime Minister. They expressed optimism at India's growth trajectory. CIM invited them to expand their presence in India, making use of the growing opportunities.