India-US trade surpassing USD 200 billion mark reflects robust relationship, highlights USISPF President

India-US relationship: New Delhi, January 14 (ANI): The President and CEO of the US-India Strategic Partnership Forum (USISPF), Mukesh Aghi, celebrated the thriving India-US relationship, revealing that trade between the two nations has surpassed the USD 200 billion mark. Aghi underscored the collaborative efforts in areas such as engines, quantum computing, artificial intelligence (AI), cybersecurity, and space partnerships.

Milestone in India-US Trade

Mukesh Aghi expressed the strength of the India-US relationship, particularly in trade, stating, "The relationship between India and the US is very strong. From a trade perspective, we already crossed USD 200 billion in trade." He highlighted the substantial collaboration and cooperation taking place between the two countries.

Focus on Collaborative Ventures

Emphasizing the collaborative spirit, Aghi pointed to joint efforts in critical areas such as engines, quantum computing, AI, cybersecurity, and space partnerships. This reflects a strategic alignment between India and the US in advancing technological frontiers.

Evolution of Trade Policy Forum

Discussing the India-United States Trade Policy Forum, Aghi noted a positive shift in focus. The discussions now centre around enhancing trade, eliminating hurdles, and exploring avenues for tariff reduction, moving away from specific trade disputes. This shift represents a more cooperative and forward-looking approach.

Challenges in Free Trade Agreement (FTA) Prospects

While discussing the potential for a Free Trade Agreement (FTA) between the two countries, Aghi acknowledged the challenges. He cited the Biden administration's lack of FTAs with any country and political limitations in the US as obstacles to engaging in such discussions.

India as a Crucial Supply Chain Hub

Aghi shed light on the momentum in the India-US supply chain, noting that companies are relocating production to India. He highlighted India's importance in protecting the assets and supply chains of US companies, especially in the face of increased challenges faced by these companies in China.

Vibrant India: Beyond Gujarat Summit

Underlining the recent Vibrant Gujarat Summit, Aghi suggested renaming it as "Vibrant India," given the widespread participation and excitement among US companies. He portrayed India as an attractive market opportunity and a strategic destination for companies looking to de-risk their supply chains from China.

In summary, the India-US relationship has not only crossed significant trade milestones but also deepened collaboration in critical sectors, showcasing a dynamic and mutually beneficial partnership.