iNDICA NEWS BUREAU-
The mood following Prime Minister Narendra Modi’s recent visit to the U.S. is one of optimism and confidence, with many believing it marks the beginning of a new chapter in U.S.-India collaboration that will drive growth, innovation, and prosperity, according to the Confederation of Indian Industry (CII).
CII described the visit as a major milestone that will enhance bilateral partnerships in trade, investment, defense, and technology. The joint statement and initiatives launched during the visit, framed under the U.S.-India COMPACT, have outlined a clear, forward-looking agenda for the relationship, creating fresh opportunities for economic growth and industry advancement.
Chandrajit Banerjee, Director General of CII, emphasized that the visit signifies a stronger partnership, particularly in critical sectors like defense, energy, semiconductors, space, and emerging technologies such as artificial intelligence (AI), quantum computing, and biotechnology. This collaboration sets the stage for both nations’ private sectors to thrive together, with India expected to benefit from increased manufacturing, foreign direct investment, and job creation.
CII also noted the ambitious target of $500 billion in trade by 2030, which will boost exports from India, particularly labor-intensive goods, while supporting the growth of US industrial exports. The discussions are expected to pave the way for easier market access and regulatory alignment, providing Indian products and services with better opportunities in the US market.
Energy was another major focus of the discussions, with the US positioned to play a key role in meeting India’s growing energy needs, especially as India works toward achieving its net-zero targets. The conversations on nuclear energy, aligned with India’s goal of reaching 100 GW of nuclear power by 2047, are expected to foster new technology collaborations and cleaner energy solutions.
The outcomes of the visit are expected to significantly benefit other sectors as well, including critical minerals, advanced materials, and pharmaceuticals. Banerjee pointed out that the new agreements and frameworks will allow Indian industries to scale up, innovate, and become more integrated into global markets. Increased defense co-production and technology sharing will also elevate India’s manufacturing and R&D capabilities.
