Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Shri Piyush Goyal, and U.S. Secretary of Commerce, Ms. Gina Raimondo, convened virtually on November 30th, 2023, to conduct a comprehensive review of the India-U.S. CEO Forum.
Shri Goyal highlighted the increasing alignment of perspectives and strategic interests between the two nations, emphasizing initiatives like QUAD, IPEF, and I2U2 that promote regional and global cooperation in critical sectors. Encouraging industry involvement, he urged leveraging platforms such as the Semiconductor Supply Chain and Innovation Partnership, Innovation Handshake, India-Middle East-Europe Economic Corridor, and Global Biofuels Alliance for collaborative opportunities. Moreover, Minister Goyal commended Forum members for guiding the government’s substantial reforms, including modifications in courier customs clearance and e-commerce in Foreign Trade Policy. He welcomed industry-led initiatives like NIHIT and FIST, aimed at capacity-building for small businesses, startups, and MSMEs.
Secretary Raimondo expressed gratitude to Minister Goyal, Co-chairs, and Forum members for their year-long efforts, highlighting the influential impact of Prime Minister Shri Narendra Modi’s and President Biden’s visits, which bolstered bilateral ties. She urged the CEO Forum to act on pivotal recommendations and welcomed new U.S. industry members, including Honeywell, Pfizer, Kyndryl, and Viasat.
The Forum, co-chaired by Mr. N. Chandrasekaran, Chairman, Tata Sons, and Mr. James Taiclet, President and CEO, Lockheed Martin, signifies the eighth convening since its reformation in December 2014. It serves as a crucial catalyst for economic cooperation and advises the India-US Commercial Dialogue, drawing participation from 27 CEOs.
Highlighted discussions revolved around enhancing supply chain cooperation, green tech collaboration, and scaling up clean tech manufacturing, along with strengthening partnerships in critical technologies. Both sides focused on skilling programs, emphasizing STEM exchange and leveraging initiatives like NIHIT, Prakshepan, and FIST to bridge startups and SMBs from both nations.
With a focus on trust-based engagement, representatives from governments and corporations reiterated their commitment to bolster commercial ties, laying the groundwork for forthcoming initiatives at the early 2024 CEO Forum meeting.