Blinken says economic ties centre of India-U.S. strategic partnership

Contact Counsellor

Last Updated15/06/2023

Ahead of Prime Minister’s state visit, U.S. Secretary of State Antony Blinken has said economic ties are at the heart of the Indo- U.S. strategic partnership.
He also added that the two countries are helping shape innovations of the future and the norms governing them.

Hosted by the US-India Business Council (USIBC), a Washington-based business advocacy group.

Formed in 1975 as a business advocacy organisation.
Established to enlighten and encourage the private sectors of both India and United States to enhance investment flows.
Serves as a direct link between business and Government leaders, resulting in increased trade and investment to strengthen ties between the two nations.
Partners with the major trade associations in India, including The Confederation of Indian Industry (CII), The American Chamber of Commerce in India (AmCham India), National Association of Software and Services Companies (NASSCOM), etc.
Mission:
- To promote trade relations between India and the United States.
- To support pro-growth policies and increased bilateral engagement, focusing on two-way trade.

Last year trade between the two countries reached a record $191 billion, making the U.S. the largest trading partner for India.
American companies have invested at least $54 billion in India — from manufacturing to telecommunications.
Indian companies had invested over $40 billion — in IT, pharmaceuticals and more — supporting 4,25,000 jobs.
This year, Air India announced the historic purchase of more than 200 Boeing aircraft that will support an estimated one million-plus jobs across 44 States.
India has joined three pillars of Indo-Pacific Economic Framework — committing to build more resilient supply chains, seize clean energy opportunities and combat corruption.