India-US CEO forum on Wednesday discussed ways to further strengthen economic ties between the two countries. It was chaired jointly by Commerce and Industry Minister Piyush Goyal and Gina Raimondo, US Secretary of Commerce. In the meeting, Goyal highlighted the significant growth of the India-US economic relations, driven by the common interest of promoting sustainability, emerging technologies, globally resilient supply chains and small businesses.
“The forum continues to be an effective platform for dialogue across key sectoral themes and to identify areas for closer collaboration for the mutual benefit of both economies,” the commerce ministry said in a statement on Thursday. It comprises CEOs from leading Indian and US-based companies and is co-chaired by Tata Sons Chairman N Chandrasekaran and Lockheed Martin President & CEO James Taiclet. This is the sixth time the forum has been convened since its reconstitution in December 2014 by the governments of India and the US.
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The CEOs, under the seven working groups, presented priority areas to create stronger partnerships and boost growth across various critical areas, such as entrepreneurship and promoting small businesses, healthcare and pharmaceuticals, aerospace and defence, ICT and digital infrastructure, energy, water and environment, infrastructure and manufacturing, financial services, trade and investments.
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This dialogue will serve as the framework under which specific recommendations will be charted out during the sixth edition of the India-US CEO Forum, due to be held early next year, the statement said. The bilateral trade between the countries has increased to USD 120 billion in 2021-22 from USD 80.5 billion in 2020-21.