Following Prime Minister Narendra Modi’s third election victory, the relationship between the United States and India remains robust, particularly in the business sector. US Ambassador to India, Eric Garcetti, expressed his excitement about the increasing investments between the two nations. Recently, Garcetti led a significant Indian business delegation to an investment summit in Washington, underscoring the strengthening ties.
Garcetti pointed out a notable shift: Indian companies are now heavily investing in the US, a reversal from the past trend where US companies primarily invested in India. For instance, JSW Steel announced a $110 million investment in Texas to build steel wind turbines, demonstrating the global strength of Indian companies.
This July, we’re excited to launch #USIndiaFWDforTech, celebrating the dynamic U.S.-India tech partnership. Together, we’re advancing innovation and shaping a future where cutting-edge science makes a real-world impact. Join us this month as we celebrate transformative… pic.twitter.com/RPfGy2N4wO
— U.S. Ambassador Eric Garcetti (@USAmbIndia) July 1, 2024
Despite the Bhartiya Janata Party (BJP) requiring coalition partners to form the government, Garcetti believes the US-India relationship remains steadfast. He emphasized three main objectives: boosting trade, sharing technologies to enhance India’s manufacturing capabilities, and establishing a free Indo-Pacific region through strategic partnerships.
The US-India initiative on Critical and Emerging Technology (iCET) is a focal point of this partnership, concentrating on sharing essential technologies. Garcetti highlighted the shared democratic values between the US and India, leveraging technology to connect and protect their people.
This partnership includes ambitious projects such as sending an Indian astronaut to the International Space Station and collaborating on a radar satellite to combat climate change. In defense, plans are underway to co-produce military jet engines and combat vehicles, showcasing a long-term commitment to mutual development.
Additionally, the US and India are collaborating on semiconductor initiatives, with substantial investments and efforts to build skills and knowledge in India. Garcetti sees significant potential for further collaboration in areas like artificial intelligence and quantum computing, providing a strong foundation for future innovation.
Overall, the US-India relationship under Modi’s leadership is set to achieve new heights, fostering mutual growth and strategic partnerships across various sectors.
