By Reena BhardwajWashington, DC [US], November 10 (ANI): Union Commerce and Industries Minister Piyush Goyal is scheduled to go to the US from November 13-17 to attend the Indo-Pacific Economic Framework (IPEF) ministerial assembly and has been invited to attend the Asia-Pacific Economic Cooperation Summit in San Francisco.
On the day of his arrival, the minister is scheduled to satisfy with Tesla chief Elon Musk, sources acquainted with the plans informed ANI.
The assembly between Goyal and Musk will stress Tesla’s plans of foraying into India and the manufacture of extra Tesla elements within the nation.
This assembly comes virtually 4 months after Musk met Prime Minister Narendra Modi in New York City and expressed his curiosity in making vital investments within the nation.
The Union minister can even work together with two prime US officers, together with US Secretary of Commerce Gina Raimondo and US Trade Representative (USTR) Katherine Tai, to strengthen the partnership between the 2 nations and strengthen commerce and financial ties. The Commerce minister can even work together with ministers from different IPEF associate international locations on the sidelines of the IPEF ministerial.
Goyal and Raimondo can even collectively take part within the United States-India Business Council (USIBC) occasion on the margins of the Asia-Pacific Economic Cooperation (APEC) financial leaders assembly.
“We’re going to be talking in that meeting with a number of companies, USIBC members, but also with startups in the innovation space to talk about how to foster even more unicorn-like startups between the United States and India,l” Atul Keshap, president, USIBC, informed ANI.
APEC in San Francisco will see among the most influential world leaders and enterprise executives convene, focus on very important points, and collectively form the trajectory of a area that holds immense significance for international prosperity, stability, and sustainability. The summit programme will spotlight the potential of collaboration and contemporary pondering to construct the long run by a give attention to Sustainability, Inclusion, Resilience, and Innovation.
This yr’s summit can even carry collectively 20 main CEO’s representing firms equivalent to Microsoft Pfizer, Uber, Citibank, Fedex, Exxon Mobil Corp to call just a few, a lot of which, have deep financial pursuits within the Asia Pacific area and China specifically.
“So for the United States to invite India to this APEC summit in San Francisco, to me is a really big deal. India is not a member of APEC, although it asked to become a member back in 1991 when APEC was formed. And I think this administration is actually putting a lot of effort into trying to reach out to India to include it in our trade efforts around the world. Look at the Indopacific economic framework,” the previous diplomat mentioned.
At this summit, Goyal can have a short casual interplay with President Joe Biden and the previous can even be part of the APEC group picture. Biden can even welcome different APEC leaders, together with from Canada’s PM Trudeau and China’s President Xi Jinping.
While within the Bay Area of San Francisco, Goyal can even work together with eminent businesspeople and business leaders.
President and Chief Executive Officer of the US-India Strategic Partnership Forum (USISPF), Dr Mukesh Aghi, talking on Union Minister Piyush Goyal’s go to to the US, mentioned, “Well, this is on the sidelines of Indo-Pacific Economic Framework for Prosperity (IPEF) and APEC. USISPF in an event will be bringing in US technology companies, from Al to chipmaking to cybersecurity, and exploring how we can collaborate, how we can get some of these companies to come and invest in India. We’re also looking at Indian startups to see how we can bring them to the US. So it’s a two way trade, it’s a two way transfer of technology. So that’s the whole objective of the event taking place with Minister Goyal.”The Indo-Pacific Economic Framework for Prosperity (IPEF) was launched collectively by the US and different associate international locations of the Indo-Pacific area on May 23, 2022 in Tokyo. India joined the IPEF and Prime Minister Narendra Modi attended the launch occasion together with US President Joe Biden, Japanese Prime Minister Fumio Kishida, and different leaders from associate international locations.
The IPEF seeks to strengthen financial engagement amongst associate international locations with the aim of advancing progress, peace, and prosperity within the area. The framework is structured round 4 pillars regarding Trade (Pillar I); Supply Chains (Pillar II); a clear financial system (Pillar III); and Fair Economy (Pillar IV).
The assembly would give attention to strengthening financial cooperation and enhancing resilience, sustainability, inclusiveness, financial progress, equity, and competitiveness within the Indo-Pacific area.
India is dedicated to a free, open, and inclusive Indo-Pacific area and would work in the direction of deepening financial cooperation amongst companions for the expansion and prosperity of the area. The framework is inclusive and permits flexibility to associate international locations to affiliate with pillars based mostly on their respective priorities, the Ministry of Commerce and Industry mentioned in a press release.
During the go to, the minister would work together with the CEOs of multinationals, the Indian diaspora, the startup group, together with enterprise capitalists, and academia to propel present commerce and funding relations between the Indian and US enterprise communities. The go to would give attention to emphasising the attractiveness of India as essentially the most most well-liked funding vacation spot.
Goyal will maintain discussions on the necessity and potential for nearer industrial collaborations, additional develop partnerships, and set up commerce and funding linkages throughout precedence areas.
Curated interactions with the startup ecosystem and the Indian diaspora that might assist in empowering and mentoring their progress and growth are additionally on the agenda. The minister can even launch the Institute of Chartered Accounts of India’s (ICAI) two consultant workplaces within the USA.
Goyal is predicted to work together with globally famend expertise, entrepreneurship, and educational communities within the Bay Area, particularly in Silicon Valley, to undertake centered discussions with American firms seeking to make investments or develop in India throughout sectors: electronics (together with semiconductors), expertise, fintech, and extra. (ANI)