Review of the India-U.S. CEO Forum

  • Done by Mr. Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles and Ms. Gina Raimondo, U.S. Secretary of Commerce.
  • The Meeting took place virtually.

Indian Delivery:

  • Emphasized the role of initiatives like the QUAD, IPEF, and I2U2 in fostering regional and global cooperation in critical and emerging sectors.
  • Encouraged the industry to leverage platforms like the Semiconductor Supply Chain and Innovation Partnership, Innovation Handshake, India-Middle East-Europe Economic Corridor and Global Biofuels Alliance and explore collaborative opportunities.
  • Welcomed industry-led initiatives such as NIHIT (www.nihit.org), a nationwide capacity-building endeavour for small businesses, startups, and MSMEs and FIST (Framework for Integrity, Security and Trust).

US Delivery:

  • Urged CEO Forum to implement the pivotal recommendations outlined by the Forum members.
  • Announced the inclusion of four new members from the U.S. industry including Honeywell, Pfizer, Kyndryl, and Viasat as part of the CEO Forum.

About The Forum:

  • The Forum is comprised of CEOs from leading Indian and U.S.-based companies.
  • It is co-chaired by Mr. N. Chandrasekaran, Chairman, Tata Sons and Mr. James Taiclet, President and Chief Executive Officer, Lockheed Martin.
  • This is the eighth convening of the Forum.
  • It was reconstituted in December 2014.
  • It is a key advisory private sector body to India-US Commercial Dialogue.
  • It witnessed participation from 27 CEOs from both sides.
  • The session included a read-out of the progress update on recommendations and suggestions, delivered by the co-chairs of each of the various working groups.
  • It focused on Energy, Water and Environment, Infrastructure and Manufacturing, Aerospace and Defence, Healthcare and Pharmaceuticals, Entrepreneurship and Small Businesses, ICT and Digital Infrastructure, Financial Services, Trade and Investments.

Key Areas of the Discussion:

  • Supply Chain cooperation across pharma, semiconductors, critical minerals & energy
  • Collaborative opportunities in green tech & scaling up manufacturing for clean tech
  • Strengthening partnerships in critical and emerging technologies
  • Bilateral industry-led skilling programs including STEM exchange
  • Leveraging forum initiatives like NIHIT, Prakshepan and FIST to build bridges between startups and SMBs from both countries.
Posted in Current Affairs.