Latest news with #USIBC
Indian Express
04-07-2025
- Automotive
- Indian Express
UP govt launches ‘China+1' global roadshow to attract diversified investments
The Uttar Pradesh government is taking its investment pitch global, anchoring a 'China+1' strategy to position the state as a dependable alternative for companies seeking to diversify supply chains. Under the banner of Invest UP, high-level roadshows and business roundtables will be held in New York, San Francisco, Los Angeles, London, Paris, Frankfurt, Milan, Amsterdam and Birmingham, in partnership with Indian embassies and industry bodies such as USIBC, CII and FICCI. In the United States, discussions will target technology heavyweights like Google, Amazon Web Services, Microsoft Azure and Oracle, as well as datacenter operators Equinix and consumer brands including Skechers, Mattel, Ralph Lauren and Coach. In Europe and the UK, the outreach focuses on automotive and engineering leaders BMW, Bosch and BASF, luxury houses Prada and Versace, and consumer staples firms such as Lego, Unilever and GSK. Chief Secretary Manoj Kumar Singh said these engagements go beyond mere investment invitations, aiming to build sustainable, employment-driven value chains. Backed by over 33 sector-specific policies, streamlined approvals and the digital single-window platform Nivesh Mitra, UP recorded the highest number of new factory registrations in India in 2024–25, he noted. Singh highlighted recent marquee investments: a ₹3,700 crore semiconductor and electronics facility by HCL-Foxconn OSAT; the establishment of a Prime Minister's MITRA mega textile park alongside ten mini clusters; the 2023 EV policy targeting 36 GWh of battery capacity by 2028; and the development of Noida–Greater Noida as a national hub for data centres and AI infrastructure. Together, these initiatives set Uttar Pradesh on course to become a global manufacturing and innovation powerhouse.
NDTV
03-07-2025
- Business
- NDTV
"Agriculture Issues Most Sensitive": US Ex Envoy To India On Trade Deal
New Delhi: Atul Keshap, president of the United States India Business Council (USIBC), has pointed out that agriculture issues are always the most sensitive issues in any trade negotiation, and the India-US free-trade agreement (FTA) which is expected to be announced anytime now will have to navigate this aspect of the FTA, "no matter what it may look like". The USIBC is dedicated to the growth of commercial ties between the world's two largest democracies. Mr Keshap told NDTV that USIBC and all member companies are cheering, as is the US Chamber of Commerce, over the FTA. "We are hoping for a meaningful trade deal between the world's two greatest democracies. So agriculture will of course be sensitive... This is because farmers occupy an enormously important cultural space in all of our countries," he said. "Look at the Japanese rice farmers, for example. And farming and agriculture hit very close to the home and the heart, and these are also extremely important political constituencies. So of course the trade negotiation with regard to any agricultural issues will be the most sensitive," he added. "However, there is virtue in having these conversations, and I would just add that it's been years since we've last been in a serious trade negotiation. We came close about four or five years ago. I'm hoping that this time we'll bring it over the line," the retired career senior Foreign Service Officer who has also served as Charge d'Affaires at the US embassy in Delhi said. According to him, there is virtue in coming to a reasonable outcome that is good for both countries. The latest FTA is just the first in what could be a series of trade agreements between the US and India. "... I am very hopeful that the negotiators will be able to come to some form of agreement that allows us to create a pathway and a foundation for even more such talks and even more such agreements... This is a very sensitive negotiation. It involves both sides stretching their comfort zones," Mr Keshap said. "It is, I think, extremely important strategically for the United States and India to have a trade agreement, no matter what it may look like. I think that our shared adversaries are watching and hoping that we fail. We cannot fail. "We must succeed. We are compelled by the geostrategic turbulence of the moment to ensure that we send a strong signal to the entire world that the US and India are still working to build their relationship. Indeed, if you look at Prime Minister [Narendra] Modi and President [Donald] Trump's aspiration that we hit $500 billion in bilateral trade, we are far short of the mark. So this deal, I feel, has to happen, and I pray that it will happen, and I think that it'll be the first of many to come," Mr Keshap said. While India is seeking greater market access for its labour-intensive goods, the US wants duty concessions for its agricultural products. These talks are important as the suspension of US reciprocal tariffs is ending on July 9. The two sides are looking at finalising the talks before that.
The Hindu
02-07-2025
- Business
- The Hindu
U.S.-India ‘mini deal' by July 9 possible but likely ‘symbolic,' say industry leaders
While a mini trade deal between India and the US still seems possible before July 9, such a deal would likely be a 'symbolic one' centred on 'low-hanging fruits', according to industry captains. Such a deal, they added, would be a small beginning in a long journey for the world's largest democracies. According to Atul Keshap, former Ambassador and President of U.S.-India Business Council (USIBC), a business advocacy group that represents companies in the U.S, India, and the Pacific region, a mini trade deal would be a first step in the two countries' longer journey toward achieving the 'Mission 500' target of $500 billion in bilateral trade by 2030. 'There is great promise in building deeper energy and technology ties, in electronics and IT, which will remain strong pillars of our bilateral trade,'' Mr. Keshap told The Hindu. He further said that clinching an initial agreement would reaffirm the steadfast partnership between the two governments and show both parties were committed to trade as a tool for enhancing economic progress and building new commercial opportunities. Responding to a query on what could prove to be key sticking points, Mr. Keshap said, 'The more trade between two countries, the higher the chances for disagreements over trade policy. In the end, we need a deal that enables the private sectors of both countries to deliver on the promise of free enterprise and entrepreneurship.'' He further said, USIBC believed that there was great promise in building deeper energy and technology ties, in electronics and IT, which would remain strong pillars of our bilateral trade. 'It is very important that both governments discuss and deliberate on what can increase bilateral trade between the two countries,'' he opined. Kami Viswanathan, President of Middle East, Indian Subcontinent and Africa (MEISA), FedEx, also said she was hopeful of seeing a mini deal out by the expected time. 'It's due for some time now, and I hope it comes soon. I hope there will be something happening within the timeline itself. That will do good to businesses, trade, and to both countries,'' she anticipated. Kumar Deep, Country Director-India, Information Technology Industry Council, a Washington DC-based apex body for global tech firms, thought that, 'There is an ever-changing geopolitical situation. We are not sure as to what is going to come out by July 9, will there be a formal trade announcement by that time or not. But it is heartening to see that both governments are closely engaged in having some concrete trade negotiations. That is very positive and earlier we have not seen these energies working towards improving relationships.'' According to Mr. Deep, in the last three months, there have been several delegations visiting New Delhi and Washington. It is a complex deal and the design has to be right for both governments, businesses in both countries and their people, he commented. Shashi Shekhar Vempati, former Chief Executive Officer of Prasar Bharati (DD&AIR) and co-founder of DataDaan, a nationwide programme designed to promote voluntary data sharing for AI model training and innovation, said the fundamentals of both countries were so robust, and historically India and the U.S have been together in many ways. ``It is only a logical extension that we deepen our ties across technology, supply chain and many other areas and minimise barriers. Things are now looking very positive.'' Pradeep Rao, Director and Chief Architect at Kyndryl, a spin-off from IBM, in his individual capacity said, 'A mini deal by July 9, I do think it's technically feasible, especially if it focuses on low-hanging fruit in the technology and digital trade sectors.'' The timeline, however, was indeed tight, and the deal would likely be symbolic, maybe paving the way for a broader framework, he opined. Given the strategic importance of the Indo-U.S. tech corridor — covering everything from AI to semiconductors to cybersecurity — both governments have strong incentives to showcase some tangible progress, said Mr. Rao. The U.S. Chamber has argued against the application of broad-based tariffs, Mr. Keshap said. 'Tariffs are a tax, paid by domestic businesses and consumers, and they undermine growth and productivity.'' The USIBC was also discussing joint investments, co-development of technologies, institutionalising reforms, and building a two-way investment corridor supporting Indian investments in the United States and U.S. investments in India, he said. According to Mr. Rao, American businesses are indeed protesting the tariffs, particularly in the tech and digital hardware sectors. US companies, from cloud service providers to chipmakers, see India as a fast-growing market and R&D hub, but high tariffs on electronics, semiconductors, and ICT infrastructure hurt their competitiveness. ''Nobody likes tariffs in the U.S, everybody wants a bunch of good trade deals and negotiations. We have been vouching for open market access and a level playing field for all our member companies. There could be all kinds of models, in-sourcing, onshoring, or outsourcing, eventually it should make business sense to all,'' said Mr. Deep.
The Hindu
25-06-2025
- Business
- The Hindu
‘Indo-US ties evolved from trade to collaborations in science, technology, innovation in 50 years'
A group of industry leaders, tech gurus, and policy experts who spoke at U.S. Chamber of Commerce's U.S.-India Business Council (USIBC) conclave here on Wednesday emphasised the importance of increased convergence between India and the U.S. across several areas, including AI infrastructure, quantum technologies, biotech. defence, space, AIOT (artificial intelligence of things). The conclave was held in connection with USIBC's 50th anniversary. U.S. Consul General in Chennai Chris Hodges said commerce today remained at the heart of partnership between India and the U.S. ''Top institutes of higher learning, laboratories, research and development centres, IT firms, start-up incubators, and deep pools of human resources talent make it a natural focus for collaboration under the TRUST (Transforming the Relationship Utilising Strategic Technology) initiative on AI, quantum, semiconductors, biotechnology, and space.' In his opening address, USIBC president Ambassador Atul Keshap (retd) said: 'Fifty years ago, USIBC was born out of a belief that the U.S. and India could accomplish more together. Today, we are building the next 50 on that same foundation of trust.' Speaking on the occasion, Priyank Kharge, Minister of Electronics, Information Technology & Biotechnology and Rural Development & Panchayat Raj, emphasised Karnataka's readiness to be a central partner in global innovation. Kiran Mazumdar-Shaw, president and founder, Biocon Ltd., said over the decades, the two nations have evolved from trade and investment to deep collaborations in science, technology, and innovation. ''We must envision a U.S.-India technology ecosystem that moves beyond transactions toward joint capability-building that delivers resilience, inclusivity and global impact. In a world where geopolitical uncertainties and shifting alliances increasingly influence global supply chains and technology leadership, our partnership stands as a beacon of stability,'' she observed. The next 50 years Going forward, Ms. Shaw said economic growth would be led by digital technologies, AI and high-quality data that support LLMs. 'Data exchanges will form the foundation of a bilateral trade agreement between US and India which is to be announced shortly,'' she anticipated. According to Ms. Shaw, India provides the largest pool of STEM talent to the U.S., with over 2 million professionals contributing to technology, research, and innovation. U.S. companies were investing in areas like AI, semiconductors, clean energy, and digital infrastructure in India. At the same time, Indian companies have been investing in IT services, and now increasingly in technology R&D, digital health, biomanufacturing, and advanced analytics, she said. Pharmaceuticals, she said, remained a cornerstone of this partnership, as India played a vital role in global and U.S. healthcare by ensuring a steady supply of affordable medicines. ''India supplies over 45% of generic and 15% of biosimilar volumes consumed in the U.S. annually. Over the past decade, generics and biosimilars have saved the U.S. healthcare system over $3 trillion,'' she said, adding these savings have enabled broader insurance coverage and made essential medicines accessible to a larger population.
Times of Oman
14-02-2025
- Business
- Times of Oman
Indian Union Minister Hardeep Puri emphasises commitment to attract investors in energy sector
New Delhi: Hardeep Singh Puri, Indian Union Minister for Petroleum and Natural Gas on Friday emphasised the country's commitment to fostering a predictable, stable, and growth-oriented business environment in the energy market. Participating in a discussion on the sidelines of India Energy Week 2025 in New Delhi, the Union Minister highlighted the government's commitment to provide ease of business in the energy sector, mentioning the Oilfields (Regulation and Development) Amendment Bill, 2024 which was tabled in the Parliament. The Minister said that the moves by the government aim to attract international investments and further strengthen India's position on the global energy map. Puri stressed that the law's enactment will end the unpredictability, increasing confidence in the sector. He further emphasised that India's rapidly expanding energy needs, driven by its ambition to become a developed nation by 2047, would create substantial opportunities in both traditional and green energy sectors. He stressed that India's approach is not just about securing its own energy future, but about contributing to the global energy market, with collaborations in clean energy technologies already in place with countries like Italy, the UK, Brazil, and the Middle East. Moreover, Puri underscored India's willingness to share innovative solutions with the world. He noted that technologies like clean cooking and energy-efficient products developed in India have the potential to be scaled internationally, contributing to the global effort to transition to cleaner energy. Going further, Union Minister Puri also spoke about India's efforts for the collaborations and said, "Apart from the discussions taking place in Washington, one of them said that the USIBC (US-India Business Council) want to set up a small informal working group with us to look at the application of AI. The words which struck me from that conversation were frugality, efficiency and innovation. So it's a very positive thing. Today, we've had fantastic meetings with the USIBC. We've had excellent meetings with representatives and ministers from the Gulf, people from Latin America, Petrobras, and Oil India Ltd."
