On Friday, Piyush Goyal, India’s minister of commerce and industry, announced that he had met with over fifty prominent business and industry figures from around the world at a roundtable in New York to discuss ways to improve economic relations between India and the United States and to attract investment to India.
Business leaders from various sectors gathered at the event, which was organised by the Consulate General of India in New York in conjunction with the US-India Strategic Partnership Forum (USISPF), to discuss potential investment and trade prospects.
In a series of social media posts, Goyal lauded Prime Minister Narendra Modi’s administration for India’s robust economic growth, its reform-oriented policy climate, and the increasing opportunities it offers foreign investors.
The minister highlighted the opportunity for shared economic growth and deeper commercial ties as discussions revolved around strengthening India-US cooperation in trade, investment, innovation, and resilient supply chains.
The Indian government is ramping up its outreach with important global partners in an effort to entice investments and increase market access; the New York engagement is a component of this larger economic diplomacy push.
Goyal made the announcement earlier this week that commerce between India and Canada is now at about $8.5 billion, and that the two nations intend to increase it to $50 billion by 2030 via more economic cooperation and trade talks.
He visited Ottawa and Toronto on his recent trip to Canada with the goals of enhancing bilateral commerce and speeding up negotiations for the Comprehensive Economic Partnership Agreement (CEPA) between India and Canada.
Additionally, the minister has maintained sector-specific partnerships with multinational firms. The executive vice president of government operations, global public policy, and corporate strategy at Boeing, Jeff Shockey, led a delegation that he met with earlier in May to discuss potential areas of strategic and industrial cooperation.
India has been working hard to strengthen its status as a top global investment destination and strengthen its trade partnerships with key economies. The current roundtable is a reflection of this endeavour.
Image Credit: NDTV
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