The United States (US) and India share a very good and strong business relationship and there is a huge investment flowing from the US, said Union Minister of Commerce and Industry, Consumer Affairs Piyush Goyal on Thursday
He said that the US is India’s largest trading partner and many Indian companies do huge work for their counterparts in America.
Observing that US and India are getting closer together, the minister said that the relations between the two nations were strengthening by the day through two Quads now- one with Japan and Australia and another with Israel and UAE.
He said that the 2 plus 2 ministerial dialogues between India and USA are robust and vibrant and our engagements in several areas including geopolitical and sensitive areas are expanding.
The leaders of both countries, the businesses of both countries and the people of both countries are closer than ever before, he added.
He also mentioned that India has achieved international engagement such as USD 675 billion worth of foreign trade despite challenges of conflict, inflation, the threat of recession and pandemic and record FDI in the last eight years.
The minister expressed confidence that India is and would remain a preferred trading partner and investment destination to the world, thanks to the huge market, honest government and transparent economic policies, rule of law, vibrant media and judiciary.
"This will improve the well-being of people of India, provide jobs, thrust economic activity and thus growth,'' he added.
Meanwhile, Goyal also engaged with top companies and labs of semiconductor manufacturing and research to explore greater collaboration with Indian companies. He held a meeting with Tim Archer, CEO of Lam Research.
“Building on our pool of young and skilled workforce, discussed how India in collaboration with Lam research, can provide a leading edge in semiconductor innovation," he tweeted after the meeting.
