Prime Minister Modi's US Visit Boosts Strategic Collaboration: India Inc

Indian Prime Minister Narendra Modi's recent visit to the United States has been hailed by India Inc as a significant step towards strengthening strategic collaboration and deepening ties between the two nations, PTI Reported.

PM Modi concluded his state visit to the US on Saturday and departed for Egypt. While there, he met with President Joe Biden and spoke to a joint session of Congress.

The visit has laid a solid platform for further enhancing the Indo-US partnership, according to CII Director General Chandrajit Banerjee.

"A new chapter has been added to the partnership that will see a much stronger collaboration in strategic technology collaboration, including defence, semiconductor, and space and in emerging technology sectors like AI and quantum, advanced materials, biotechnology, and telecommunications," Banerjee stated.

He noted that the visit is also important since we are able to identify new areas where the outcomes would be highly advantageous for both sides of the industry. Additionally, this fosters an environment in which the private sectors on both sides can grow in the spirit of genuine cooperation. This visit is particularly crucial since it will boost Indian manufacturing, FDI flows, and employment naturally, according to Banerjee.

The visit of Prime Minister Narendra Modi has elevated India-US strategic and commercial relations to new heights, as stated by industry body Assocham. This significant development has opened up vast opportunities for bilateral engagement and sets the stage for enhanced cooperation between the two nations.

'Prime Minister's visit is being viewed as a turning point in Indo-US relations in a fast-changing world order which would see both the countries emerge as the most influential economies with strategic prowess in the unfolding international political economy,' Assocham Secretary General Deepak Sood said.

He pointed out that while Modi displayed India's soft power by taking part in International Yoga Day at the UN headquarters in New York, their on-the-spot chemistry at the White House revealed shared cultural values between the two biggest democracies in the world.

"In his inspirational address to the joint sitting of the US Congress, Modi conveyed to the world substantive all-round progress India has made in the most critical areas for our country and the world," Sood said.

Furthermore, Prime Minister Modi emphasised that the Make In India initiative has already begun to bear fruit, particularly in the electronics and strategic defence manufacturing sectors. This is exemplified by the recent agreement between GE Electric and Hindustan Aeronautics for the production of fighter jet engines within India's borders.