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US-India Business Council Board Chair and Nasdaq Executive Vice Chairman Edward Knight has said there have been energetic interactions and engagements between the Indian and the US governments in promoting entrepreneurship in both countries.
"What I would underscore is the energetic interaction and engagement between the two governments and the two ministers on the issue of promoting entrepreneurship in India and here in the US and how we can do that better, how cooperation between the two governments and the two business communities can lead to more high growth companies, entrepreneurship and economic growth both here and in India," Edward Knight told ANI after the meeting with Union Minister of Commerce and Industry Piyush Goyal. Union Commerce Minister Piyush Goyal is on a four-day visit to the US. Asked what his take on the India-US relationship is in terms of business, Knight recalled his recent visit to India where he learnt about many US companies creating centres of excellence and other projects within India. "A few weeks ago with the US-India Business Council and the Ambassador, we saw during that trip (to India) that Google announcing an assembly facility and for that matter many companies creating centres of excellence and other projects within India," Knight noted. Meanwhile, Union Commerce Minister Piyush Goyal and his US counterpart Gina Raimondo led an industry roundtable and officially launched the two countries' ambitious "Innovation Handshake" agenda, which President Biden and Prime Minister Modi previewed during the Prime Minister's historic June 2023 official State Visit earlier this year. To Innovation Handshake events are scheduled to take place in India and the United States in early 2024, which include an investment forum aimed toward helping US and Indian startup companies take their innovative ideas and products to market and a "hackathon" in Silicon Valley where US and Indian startups will pitch ideas and technologies to help address global economic challenges. Separately, an MoU between India and the US was signed with the objective of connecting both the countries' dynamic startup ecosystems, particularly in critical and emerging technologies (CET). Minister Goyal also held a bilateral meeting with his US counterpart Gina Raimondo on the sidelines of the IPEF Ministerial Meeting and discussed the growing India-US commercial cooperation and business engagement. Further, India joined the United States and 12 other Indo-Pacific Economic Framework for Prosperity (IPEF) partners to ink the IPEF supply chain resilience agreement. Goyal said it will "fortify and strengthen" global supply chains. India and the US are among the 14 supply chain resilience partners of IPEF along with Australia, Brunei Darussalam, Fiji Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and Vietnam. Goyal thanked his US counterpart Gina Raimondo for her leadership and personal commitment to ensuring the "truly historic" moment towards a more resilient future. (ANI)
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