FICCI launches ‘India Matters” report at Capital Hill.
Prime Minister Narendra Modi’s visit to Washington has reinstated confidence in the India-US partnership, said the Federation of Indian Chambers of Commerce and Industry (FICCI).
FICCI President Pankaj Patel said “We are glad that the confidence in the US-India partnership is reinstated during his meetings with President Donald Trump and there is commitment to intensify the economic cooperation as well as advance the principles of free and fair trade.
“As United States continues to recognise India as a Major Defense and Energy Partner, the two countries will work together to leveraging new opportunities for collaboration in these sectors,” he stressed.
On the occasion of the PM Modi’s visit to Washington, FICCIand East-West Center launched a Report ‘India Matters for America/America Matters for India’ at Capitol Hill.
The FICCI-EWC report highlights the upward trajectory and expanding and deepening nature of the US-India partnership in areas such as defense, trade and investment, and education and people-to-people exchanges.
Trade between the two countries has increased by nearly 200% since 2005. Defense trade has increased from US$1 billion in 2008 to US$15 billion today.
US exports to India support 260,000 jobs across all 50 states, and one million tourists and 166,000 students from India contribute $11.4 billion and $5 billion to the American economy, respectively, according to the report.
The report was released on behalf of FICCI by Sangita Reddy, Joint Managing Director, Apollo Hospitals Group and Chair, Services Council of FICCI.
Reddy highlighted, “India Matters report is different from earlier reports (on India-USA engagement) as it goes beyond investment figures.”
The event had Representative Tulsi Gabbard, Representative Eliot Engel, Representative Raja Krishnamoorthi, Representative Ami Bera and other officials of the U.S. Government, business and academia. fii-news.com
