India-US Economic Ties Set To Reach New High: India Inc

India-US economic ties set to reach new high

Congratulating  Joe Biden on his election as the 46th President of the United States and  Kamala Harris who makes history as the first female Vice President, the Industry captains said that  Indian Industry keen to enhance bilateral economic relationship

@BR Bureau

India Inc is looking forward to building stronger economic ties with the US under President-elect  Joe Biden and expressed confidence that the Indo-American partnership would lead the world in a most coordinated manner in critical areas like dealing with Covid-19 pandemic, climate change and a rule-based fair global trade.

” We congratulate Mr Biden and Vice-President-elect  Kamala Harris for their victory in the most keenly contested  US elections. We salute the American democracy, as we cherish shared democratic values. Under the Biden-Harris leadership, the Indo-US economic ties would go from strength to strength, getting deeper into areas of advanced scientific research and development, business to business cooperation in strategic areas,” said ASSOCHAM Secretary General Mr Deepak Sood.

CII also Congratulated  Joe Biden on his election as the 46th President of the United States and  Kamala Harris who makes history as the first female Vice President.

 Uday Kotak, President, CII said, “with rising trade and investment ties between the two countries, the health of our economies are inextricably linked and we must work together during this critical time to reinvigorate the bilateral economic agenda- facilitating economic growth, enhancing job creation, supporting small business and enabling cooperation in investment-related movement of professionals.” 

“With the election of Joe Biden as President and Kamala Harris as Vice President, we are looking forward to engaging with the Administration’s leadership to promote post-pandemic economic stability, business collaboration, our shared democratic values and increased people-to-people ties that have defined the special India-US relationship,” he added. 

President-Elect Biden has long been a steadfast supporter of a stronger US-India relationship built on shared values and ideals, inspiring high expectations on the strategic and economic front. In addition to championing the goal-setting for a $500 billion bilateral trade relationship, he played an instrumental role in some of the greatest developments build the strategic partnership between the two countries, including the landmark US-India Civil Nuclear Agreement, the designation of India as a US “Major Defense Partner,” and the ratification of the Paris Climate Agreement. India and the US are natural partners, and as Indian industry, we stand ready to collaborate to deepen our cooperation across all sectors.

Chandrajit Banerjee, Director General, CII remarked that “CII looks forward to once again collaborating with President Biden and his incoming Administration. We can aim higher to our shared goal of $500 billion through a new era of revitalized economic cooperation, which would be comprehensive, complementary and collaborative. The key sectors to watch for enhanced business cooperation will be energy and the green economy, defence and manufacturing, especially providing a boost to small business cooperation, as well as pharmaceuticals and healthcare – all driven by India and the US’ new age businesses and disruptive innovation and technologies”

Congratulating Kamala Harris, the ASSOCHAM Secretary-General said, ” We feel especially elated at your election as the first woman Vice-President of America in its history. You have been so gracious in hailing your Indian routes and values”.

ASSOCHAM would be announcing several new initiatives in forging business to business cooperation covering the entire gamut of trade, services, consulting, IT and its newer technology facets.

The Industry expressed confidence that Prime Minister Narendra Modi and Biden would chalk out great cooperation in dealing with the coronavirus pandemic. The vaccine development, manufacture and distribution would require immense global cooperation. India and the US would surely be leading such cooperation, the Indian Industry expected.