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The Confederation of Indian Industry (CII) on Saturday lauded the outcomes of Prime Minister Narendra Modi's visit to the United States, terming it a major milestone that will strengthen bilateral trade, investment, defence, and technology partnerships.
CII said in a release that the wide-ranging joint statement and initiatives announced during the visit under the framework of US-India COMPACT have set a clear forward-looking agenda for India-US relations, creating new opportunities for Indian industry and economic growth. "A new chapter has been added to the India-US partnership, enabling much stronger collaboration in strategic sectors including defence, energy, semiconductors, space and emerging technologies like artificial intelligence (AI), quantum computing, advanced materials, and biotechnology. This creates an environment for the private sector on both sides to flourish in true partnership. The visit is especially significant as it will boost manufacturing in India, attract increased foreign direct investment and create jobs," said Chandrajit Banerjee, Director General, CII. Prime Minister Narendra Modi's discussions with President Trump strongly reaffirmed a commitment to expand trade and investment between the two countries, the industry body added in the release. CII welcomed the decision to work on the first phase of a bilateral trade agreement to reduce trade barriers and streamline regulatory processes, laying a strong foundation for increasing two-way trade. The target of USD 500 billion in trade by 2030 promises to give a huge boost to exports of labour-intensive goods from India and industrial goods from the US, offering many new opportunities for Indian industry, said CII. CII also added that it expects easier market access and regulatory harmonization will emerge from the proposed bilateral trade agreement dialogues, helping Indian products and services find a greater foothold in the U.S. market and vice versa. The industry body hails the defence cooperation, adding that it emerged as a prominent pillar of the visit. "Defence cooperation emerged as a prominent pillar of the visit, reinforcing the India-U.S. strategic partnership through expanded technology transfers, joint production, and industrial collaboration," CII added. The industry body also hailed the expansion of INDUS-X, a platform that connects Indian and U.S. defence firms, investors, and academic institutions to drive joint innovation in AI, cybersecurity, and advanced military technologies. Beyond technology, TRUST will accelerate investments in biotech, quantum computing, clean energy, and space exploration, driving new industrial opportunities and reinforcing India's role in the global innovation ecosystem, the CII added. The industry body noted that the visit's positive trajectory aligns with India's broader economic goals. (ANI)
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