U.S. Republic of India Strategic and Partnership Discussion board president Mukesh Aghi all through an interview with PTI, in Washington, within the U.S. Document
| Picture Credit score: PTI
“India plays a pivotal role geopolitically from an American perspective and offers the U.S. companies the opportunity to de-risk from China in the manufacturing sector,” the pinnacle of a supremacy Republic of India-centric American trade and strategic advocacy staff has stated.
“The economic growth story of India is tremendous. India is among very few large economies which are growing 7-8%,” Mukesh Aghi, the president and CEO of the U.S.-Republic of India Strategic and Partnership Discussion board (USISPF), stated on Wednesday (October 9, 2024.) “From an American perspective, India plays a “pivotal role” geopolitically,” he stated.
“India is one economy which is providing market opportunity, especially to the U.S. companies that come in and invest and gain market share. It is an economy which is providing de-risking from China itself in the manufacturing area,” Mr. Aghi told PTI in an interview.
“What we are seeing is the Indian economy is not just becoming a market opportunity, it’s becoming an opportunity for manufacturing. But more important is we are seeing a growth of global capability centres in India,” Mr. Aghi said. “The Indian economy is expected to gain momentum in 2025,” he said. India is exporting roughly almost $125 billion of services.
Mr. Aghi’s remarks came ahead of the annual India Leadership Summit of the USISPF on October 14. Several top American business leaders, including CEOs of Fortune 100, are heading to New Delhi to attend the event.
The summit will feature thought-provoking sessions and panel discussions to advance and strengthen the India-U.S. partnership.
“We have potential investors and also in startups and looking at technology companies. We have a perfect ecosystem looking at the U.S.-India relationship, both from a geopolitical perspective and also from a business perspective,” he said.
The USISPF’s visiting Board Delegation will convene in New Delhi and interact with India’s key decision-makers in a day-long agenda packed with riveting discussions to dissect the pertinent issues across trade, defence, technology, energy, and people-to-people ties.
“This is our annual summit where we assess the last 12 months of the progress between the two countries. That could be geopolitical. It could be economic. It could be people-to-people or technology itself, investment very much,” Mr. Aghi stated.
He stated, “At this pace the USISPF, is taking part in the function of a matchmaker between American corporations and Republic of India. Our schedule is to manufacture certain that those corporations spend money on Republic of India, they manufacture jobs in Republic of India, they create in era into Republic of India, and turn into a part of the supply of the de-risking provide chain.”
He stated the tension level between China and the U.S. will proceed upper and deeper, without reference to who is available in nearest the November 5 Presidential election.
“China has its ambition. China also will not treat India as an equal partner. So, there’s an incentive for India to cautiously look at its partnership with China. But more important is that India needs to create jobs. I strongly believe it’s the U.S. companies who can bring in the investment, who can bring in the technology, who can bring in the governance structure, who can bring in the supply chain into India itself,” he stated.
“Yes, there are other countries also, but I think the U.S., with its muscle, both from a technology perspective and also capital perspective, can help create jobs for 1.5 million Indians who are coming to the job market,” he said.
“India must leverage the United States both from a geopolitical- and an economic partnership perspective,” he stated.
“I feel after we take a look at the connection, this is a win-win courting, and the point of interest must be on looking to pressure no less than supremacy 50 corporations coming to Republic of India and manufacture them a success,” Mr. Aghi stated.
Printed – October 10, 2024 11:38 am IST
