iNDICA NEWS BUREAU-
The India-U.S. CEO Forum, chaired jointly by Piyush Goyal, Union Minister of Commerce and Industry, and Textiles, and Gina Raimondo, US Secretary of Commerce was held virtually on Thursday, November 10, to boost bilateral economic ties between the two nations.
Goyal said that the forum continues to be an effective platform for dialogue across key sectoral themes and also highlighted the significant growth of India-US economic ties. The minister added that this relationship is driven by the common interest in promoting sustainability, emerging technologies, globally resilient supply chains, and small businesses. He also reiterated the importance of such dialogues in leveraging this momentum.
This dialogue will 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 in early 2023.
Bilateral trade between the countries has increased to $120 billion in 2021-22 from $80.5 billion in 2020-21.
CEOs from US and India commended the two governments for implementing transformative reforms and initiatives undertaken to strengthen bilateral cooperation. The CEO Forum, comprising of 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 of 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, Healthcare and Pharmaceuticals, Aerospace and Defence, ICT and Digital Infrastructure, Energy, Water and Environment, Infrastructure and Manufacturing, Financial Services, Trade, and Investments, among others.
Secretary Raimondo thanked Goyal, the 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.
This is the sixth time the forum has been convened since its reconstitution in December 2014 by the governments of India and the USA. The forum acts as an effective platform for dialogue across key sectoral themes and helps identify areas for closer collaboration for the mutual benefit of both economies. Senior government functionaries, including Taranjit Sandhu, the Indian Ambassador to the US also participated in the meeting.