Strategic Economic Partnership between India & the USA will play a pivotal role in the Post-COVID-19 world

No. PR- 274

March 19, 2021

New Delhi

 

Strategic Economic Partnership between India & the USA will play a pivotal role in the Post-COVID-19 world

The challenges brought by the pandemic and the strategic alignment areas will strengthen the bilateral trade relationships between India and the USA. The importance of the strategic economic partnership between India and the US will play a pivotal role in the post-COVID-19 world, deliberated in the session of India- Americas Business Talk at the PHD Chamber of Commerce and Industry’s International Week.

Ms. Brenda Vanhorn, Principal Commercial Officer, Mumbai, U.S. Commercial Service talked about business and investment opportunities in the USA. She stated that the legal environment, judicial arrangement, and ease of work are all favorable in expanding the business of Indian companies in the US. She highlighted the fact that the majority of inward investment in the US comprises manufacturing and gave her support towards the development of Greenfield investments.

Mr. Steve Gervasio, Managing Director, Aled Partners talked about creating a sister city in the USA to foster a bidirectional relationship between two cities in different areas having commonalities and espousing a special relationship. Mr. Gervasio noted the need for new and innovative ideas and to start addressing the trade issues at the grass-roots level. He suggested the aim is to re-create a sustainable middle class in the US by providing early-stage capital for socially responsible projects, an aim shared by his company ALED partners that seek to do so by identifying talented entrepreneurs from abroad and creating effective upward mobility. The communities created from these people who migrated to the USA for a better living gave rise to the concept of sister-cities.

Mr. Amit Mathur, CEO, World Trade and Immigration Network, opened his address with a description of the nature of the free trade world offered by Canada and explained its benefits as an investment location, especially concerning the cost breakups associated with manufacturing.  Mr. Mathur also explained the friendly business climate in Canada and the assessment factors that are assessed by the country, such as the provincial and the core programs, key considerations and proceeded with the key steps necessary to set up a business, obtain a start-up visa, and the feasibility of looking at Canada as the next target location for Indian businesses.

Dr. Manoj Kumar Mohapatra, Minister (Commerce), Embassy of India, Washington, USA discussed the challenges brought by the pandemic and the strategic alignment areas that will strengthen the bilateral trade relationships between India and the USA. Dr. Mohapatra gave a special nod to the collaborative success of the pharmaceutical industries of both India and the USA in manufacturing the Covid-19 vaccine. He offered renewable energy, transport technology, digital technology, and education as emerging sectors of forging new ties between the nations. Dr. Mohapatra was optimistic about the new opportunities provided under the new presidentship in the USA.

Mr. Aseem R Mahajan, Consul General, Consulate General of India, Houston talked about the necessity of building on sector-focused events to deepen the partnerships between the businesses of the two countries that would lead to steady growth in the relations between India and the specific regions of the USA. This is required particularly in different sectors with different regions in the USA to aim at developing global supply chains.

Ms. Swati Vijay Kulkarni, Consul General, Consulate General of India, Atlanta talked about the multifaceted nature of ties between India and the USA. Ms. Kulkarni described the influence of these ties on all major aspects of energy, technology, and defense. With a special focus on South Eastern USA, with which India’s bilateral trade partner, Ms. Kulkarni also presented the wide Indian diaspora in South East USA that represents various key industry sectors. While she acknowledged the economic slowdown that has resulted in the fallout of the Covid-19 pandemic, Ms. Kulkarni also offered the technology and energy sectors opportunities for establishing stronger trade relations with the USA businesses.

Mr. Randhir Jaiswal, Consul General, Consulate General of India, New York applauded the efforts of PHD Chamber towards assisting the development of economic activities and partnership between the business of the two countries of India and the USA. Mr. Jaiswal stressed the importance of the strategic partnership between India and the US in which this economic partnership plays a key role.

Dr. T.V. Nagendra Prasad, Consul General, Consulate General of India, San Francisco, CA posited India and the USA as natural partners, being two vibrant economies. Focusing primarily on the West Coast region of the USA, Dr. Prasad described the Indian diaspora in the region and the nature of its business activities. He made a special mention of the sectors of green tech fintech, and energy sectors as potential areas of mutual business interest.

Mr. Amit Kumar, Consul General, Consulate General of India, Chicago, began his address with the comment on how even during the most challenging times of the Covid- 19 pandemic; India was the only country that continued its structural economic reforms. Mr. Kumar discussed the nature of the business and trade relationship of India with the Midwestern region of the USA and established its importance as an exciting start-up hub for the manufacturing and healthcare sectors. Mr. Kumar was also encouraging about the employability of the workforce of the Midwestern region, given its strong educational base. He also talked about the digital technology collaboration opportunities and the contrasts the region poses with the Silicon Valley on the Western Coast of the USA.

Mr. Vishal Dhingra, Co-Chair-Americas Committee, PHD Chamber of Commerce and Industry welcomed the panelists and asked for their suggestions on how to take the Indo- US trade relations to the next level. Mr. Dhingra invited the US businesses to make use of the resources provided by the PHD Chamber offices in different industries and sectors.

Mr. Saket Dalmia, Vice President, PHD Chamber proposed the formal vote of thanks to all the speakers for giving an excellent review of their respective regions.

The session was moderated by Mr. Naveen Seth, Assistant Secretary-General, PHD Chamber, and was attended by many industry stalwarts across the globe.

Ends

Media Division

PHD Chamber of Commerce and Industry