Our Bureau
Gandhinagar
Mukesh Aghi, President and CEO of the US-India Strategic Partnership Forum (USISPF), highlighted the robust nature of the India-US relationship, stating that trade between the two nations has exceeded $200 billion. He emphasized upon the collaborative efforts in areas such as engines, quantum computing, artificial intelligence (AI), cybersecurity, and space partnerships.
“The relationship between India and the US is very strong. From a trade perspective, we already crossed $200 billion in trade,” he said.
“We are seeing a lot of effort happening, engines, on quantum computing, AI, cyber security, partnerships in space…,” he added. “We’re seeing a substantial amount of collaboration and cooperation taking place between the two countries,” he said.
Discussing the India-United States Trade Policy Forum, Aghi noted a shift in its character and posture, moving away from contentious issues.
He said that discussions are now focused on improving trade, removing impediments, and exploring possibilities for lowering tariffs, rather than getting bogged down by specific trade disputes.
“The character and posture of trade policy forum has changed. It is no more contentious… We had six cases between the two countries in WTO, and they went away. You have political limitations on the US side because it can’t do a FTA. So there were discussions exploring how do you improve trade, remove impediments between the two countries, how do you explore lowering the tariffs. The discussion was what are the possibilities? Rather than getting stuck on raspberries and strawberries between the two countries,” he added.
USISPF President Aghi also discussed India-US Supply chain momentum and emphazised that companies are moving production to India, adding that 100 million people are affluent Indians and their purchasing power also creates a market opportunity for these companies.
“It is in the interest of the US companies to protect its assets and supply chain. What we are seeing is increased harassment of US companies in China. They want to be able to supply goods which are efficient and effective, so India becomes pivotal for their strategy… Gradually, companies are moving production into India. It’s not just about the supply chain, it’s also about trying to leverage the growing Indian market… 100 million people are affluent Indians… Their purchasing power also creates a market opportunity for these companies. So it is also supply chain and market opportunity which attracts these companies,” he said.
