“This is an optimistic time for U.S.-India relations,” declared U.S. Secretary of Commerce Gina Raimondo during the U.S.-India CEO Forum and the Indo-Pacific Economic Framework for Prosperity (IPEF) meetings.
“Our partnership with India is one of our most consequential relationships, and I’d say one of our most promising bilateral relationships,” said Secretary Raimondo. “The reason for that. . .is we share a common set of values grounded around our democratic traditions along with a commitment to promoting a free, open, rules-based order to bolster security and prosperity.”
There are opportunities for the U.S. and India to expand their economic relationship, creating jobs in both countries, and establishing more resilient and secure supply chains, said Secretary Raimondo:
“Just a few weeks ago, Boeing and Air India announced an order for 228 aircraft, which is a historic deal that reflects the strength of our economic relationship and will support a tremendous number of jobs in the United States.”
“Semiconductors are another great example of our shared priorities,” declared Secretary Raimondo:
“Both the United States and India are implementing semiconductor incentive programs, and we discussed how we could coordinate those investments, which is in both of our interests and ensure the best possible outcome for both of our countries. We would like to see India achieve its aspiration to play a larger role in the electronic supply chain. And to that end, the MOU, memorandum of understanding, that I am signing on this trip around semiconductors is designed to help achieve that goal.”
“We’re also delighted to be working with India as a part of the Indo-Pacific Economic Framework, the IPEF,” noted Secretary Raimondo:
“Through the IPEF, the United States, India, and 12 other partners in this region are developing policies to create more resilient and secure supply chains, accelerate progress on our green transition, and demonstrate our commitment to fostering a better business environment.”
Bilaterally and along with partners across the region, there’s a tremendous amount that the United States and India can do to benefit both their economies. The U.S., said Secretary Raimondo, remains very optimistic about the opportunities to expand and strengthen the U.S.-India relationship in the years to come.