The Financial Express
At the US-India Business Council (USIBC) significant investment and manufacturing announcements by the Global Board companies, unlocking India’s long-term growth potential and strengthening the economic ties between the world’s oldest and largest democracies.
The meeting concluded its 2023 Global Board of Directors Mission to India, held from October 17th through 19th in New Delhi and Mumbai. The Mission is an annual event convened by the organization’s leadership.
Ed Knight, USIBC Global Board of Directors Chairman and Executive Vice Chairman of NASDAQ, expressed deep gratitude to all those involved in the mission, highlighting their commitment to advancing the US-India comprehensive global and strategic partnership. This commitment reaffirms their shared dedication to strengthening the enduring bond between the two nations.
The Mission took place after India’s historic hosting of the G-20 and Prime Minister Narendra Modi’s State Visit to the United States in June, demonstrating the growing economic and strategic cooperation between the US and India. Over thirty industry-leading executives and high-level representatives from both countries engaged in substantial meetings and commercial diplomacy across New Delhi, Mumbai, and GIFT City, Gujarat.
Led by USIBC Global Board of Directors Chairman Edward Knight and Amb. Atul Keshap, President of USIBC, the Mission showcased USIBC’s role as a vital platform for dialogue on economic, trade, and strategic cooperation between the two countries’ public and private sectors.
The directors emphasized the increasing significance of the US-India relationship in both economic and geopolitical aspects. As the world faces economic stagnation and inflationary pressures, India and the United States are emerging as promising long-term growth engines.
Geopolitically, they are seen as pillars of stability in an increasingly uncertain international system, particularly in the Indo-Pacific region through forums like the Quad Security Dialogue and in addressing global challenges through initiatives like India, Israel, UAE., US (I2U2).
The Board celebrated a year of collaborative actions in New Delhi and Washington, D.C., which have created new opportunities for trade, investment, and public-private exchanges. Initiatives like iCET and INDUS X have propelled the private sector’s strength in delivering results and realizing the potential of their combined 1.75 billion citizens.
USIBC President Ambassador Atul Keshap emphasized the success of the 2023 Board of Directors Mission, marked by high-level engagements, constructive discussions, policy advocacy, and productive business-to-business interactions. The organization looks forward to further collaboration with various ministries and agencies in the days ahead.
The Mission’s accomplishments are attributed to the dedication and strategic vision of the Board of Directors, under Chairman Ed Knight’s leadership. Their commitment has strengthened the ties between the United States and India, with their companies actively investing in India’s growth story.
The Mission focused on key policy and regulatory considerations, covering topics such as critical and emerging technologies, venture capital and private equity access, healthcare, life sciences, and climate change commitments. Notably, it coincided with Google’s announcement to manufacture Pixel phones in India, demonstrating the company’s commitment to investing in India’s digital transformation journey.
During a day-long trip to Gujarat, the Mission met with executives at both GIFT City and the Adani Mundra Port. They also participated in the TechSurge Conference, outlining a vision for an upgraded bilateral partnership in deep tech, including quantum, A.I., defense, and secure supply chain technologies.
Minister of Finance Nirmala Sitharaman, Minister of Education and Skill Development Dharmendra Pradhan, Minister of Petroleum & Natural Gas Hardeep Singh Puri, Minister of Commerce and Industry Piyush Goyal, US Ambassador to India Eric Garcetti, Chief Economic Advisor to the Prime Minister Dr. V. Anantha Nageswaran, Chairwoman of the Securities & Exchange Board of India Madhabi Puri Bach, Deputy Chief Minister of Maharashtra Devendra Fadnavis, and US Consul General of Mumbai, Mike Hankey, were among the distinguished attendees.
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