San Francisco [US], November 14 (ANI): Union Minister for Commerce and Industry Piyush Goyal on Monday (native time) who’s on a go to to the United States met with US Trade Representative Ambassador Katherine Tai on the sidelines of the Indo-Pacific Economic Framework (IPEF) in San Francisco.
The two leaders held talks on the IPEF and commerce pillars. The bilateral assembly between Piyush Goyal and Katherine Tai lasted for nearly half-hour.
In May 2022, the United States launched the Indo-Pacific Economic Framework for Prosperity (IPEF) with Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam.
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 accomplice nations.
The IPEF seeks to strengthen financial engagement amongst accomplice nations with the aim of advancing development, peace and prosperity within the area, the Ministry of Commerce and Industry mentioned in a press release. The framework is structured round 4 pillars regarding Trade (Pillar I); Supply Chains (Pillar II); Clean Economy (Pillar III); and Fair Economy (Pillar IV).
Goyal, who’s on a go to to the United States from November 13 to 16, arrived in San Francisco Monday morning to attend the IPEF ministerial assembly. During his go to, he may also attend the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco.
Goyal is scheduled to carry a bilateral assembly with US Commerce Secretary Gina Raimondo and representatives from varied sectors and industries, in keeping with the Ministry of Commerce and Industry. These conferences will concentrate on addressing commerce obstacles, selling investments, and fostering higher cooperation in areas akin to expertise and innovation.
One of the important thing focus of the go to would be the joint occasion, co-chaired with US Commerce Secretary, Gina Raimondo on “India-USA Innovation Handshake Initiative”, with the intention to raise up and join the 2 sides’ dynamic startup ecosystems, tackle particular regulatory hurdles to cooperation, and promote additional innovation and job development, notably in rising applied sciences.”India and US are pure companions and have commerce complementarities, long-standing strategic and financial relationship, individuals to individuals contact, and each are vibrant democracies too.The two nations are additionally collaborating below different frameworks akin to QUAD and I2U2 (India-Israel/ UAE-US). Regular exchanges on the management stage have been an integral aspect of the increasing bilateral engagement.
Piyush Goyal’s go to showcases the willpower to forge robust and mutually helpful commerce and funding relationships that won’t solely profit the economies of each India and the US but in addition contribute to the general prosperity and welfare of their respective residents.
Goyal may also take part within the traders’ roundtable together with one-to-one conferences with CEOs. He may also work together with varied stakeholders akin to college students, entrepreneurs, enterprise capitalists and the Indian diaspora.
He is predicted to work together with globally famend expertise, entrepreneurship, and tutorial communities within the Bay Area, notably, in Silicon Valley to undertake targeted discussions with American corporations trying to make investments or broaden in India throughout sectors – Electronics (together with semiconductors), Technology, FinTech and many others.
Just shortly upon arrival within the US, Goyal met with Singapore’s Minister for Trade and Industry Gan Kim Yong. The two leaders mentioned methods to speed up cooperation throughout sectors to additional deepen financial partnership between India and Singapore. Taking to X, Goyal said, “Met H.E. Gan Kim Yong, Minister of TradeIndustry, Singapore, and discussed ways to accelerate cooperation across sectors to further deepen our economic partnership.” (ANI)