CII Applauds PM Modi’s US Visit: A New Era of India-US Collaboration
Following Prime Minister Narendra Modi’s recent visit to the United States, the Confederation of Indian Industry (CII) expressed strong optimism regarding the future of India-US relations.
Following Prime Minister Narendra Modi’s recent visit to the United States, the Confederation of Indian Industry (CII) expressed strong optimism regarding the future of India-US relations. The industry body highlighted the growing confidence and enthusiasm among businesses, with the visit marking a major milestone in strengthening bilateral ties, particularly in the areas of trade, investment, defense, and technology.
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A New Chapter in India-US Strategic Collaboration
CII Director General, Chandrajit Banerjee, referred to the visit as a “new chapter” in India-US relations, noting that the discussions and agreements under the US-India COMPACT framework had created a clear, forward-looking agenda. This collaboration is expected to generate new opportunities for both nations, particularly in strategic sectors such as defense, energy, semiconductors, space, and emerging technologies like artificial intelligence (AI), quantum computing, biotechnology, and advanced materials.
Banerjee further emphasized the positive environment for private sector growth on both sides, with a focus on boosting manufacturing in India, attracting foreign direct investment, and generating jobs.
Target of $500 Billion Trade by 2030 and Strengthened Bilateral Relations
One of the key outcomes of the visit was the target to achieve $500 billion in trade by 2030. This ambitious goal is expected to drive exports of labor-intensive goods from India and industrial goods from the US, offering tremendous opportunities for Indian industry to thrive.
The CII also foresees positive changes in market access and regulatory harmonization as a result of proposed bilateral trade agreement dialogues. This will allow Indian products and services to gain better traction in the US market, while also providing a larger platform for US businesses in India.
Energy and Technology Collaboration Key Focus
A significant focus of the visit was on energy collaboration. With India aiming to diversify its energy sources, the US, with its vast natural gas reserves, is poised to become a reliable supplier to meet India’s growing energy needs. Furthermore, discussions on nuclear energy—coinciding with India’s ambitious net-zero targets—could lead to technology collaborations and innovative solutions for fossil-free fuel options.
Indian Industry Set to Scale Up with Defence and Technology Partnerships
CII also noted that the outcomes of PM Modi’s US visit would bring significant benefits to various sectors, including critical minerals, advanced materials, and pharmaceuticals. Increased defense co-production and technology sharing are expected to elevate India’s capabilities in advanced manufacturing and research and development, allowing Indian firms to integrate more deeply with global markets.
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The deals and frameworks announced during the visit are seen as a major boost for Indian industry, creating a solid foundation for long-term economic growth and technological advancement.
The CII’s response to PM Modi’s US visit underscores the immense potential of India-US collaboration, which promises to drive innovation, economic growth, and greater global integration in the years ahead.
