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U.S. Chamber Congratulates Eric Garcetti on his Confirmation as U.S. Ambassador to India

WASHINGTON, D.C.— The U.S. Chamber of Commerce’s U.S.-India Business Council (USIBC) congratulates Eric Garcetti on his confirmation as the U.S. Ambassador to India today. The world’s fifth largest economy, India is an important consumer market and growing manufacturing hub for global companies. “The U.S. India Business Council is pleased that the Senate has confirmed Eric Garcetti as the U.S. Ambassador to India. As the world’s largest democracy and fastest growing large economy, India is an essential partner to the United States as it seeks to bolster its strategic, technological, and economic leadership in the Indo-Pacific,” said Ambassador Atul Keshap, President of USIBC. “I wish Ambassador Garcetti a successful posting in New Delhi. Having a U.S. Ambassador to India is critical as both great democracies work to build their Quad partnership and high-trust ecosystem, underpinned by shared democratic values.” Alexander Slater, USIBC’s Managing Director and head of its New Delhi Office, also welcomed Ambassador Garcetti. “We strongly support the appointment of a U.S. Ambassador to India and know that Ambassador Garcetti brings significant leadership experience to the position. Our team looks forward to continuing our close engagement with the U.S. Embassy under his guidance, especially on key drivers of the bilateral relationship such as the Initiative on Critical and Emerging Technologies,” he said. “Eric Garcetti’s appointment as Ambassador sends an important signal to the Government and people of India as well as industry in both countries about the importance President Biden places on the U.S.-India relationship. USIBC will work collaboratively with him and the Government of India to strengthen bilateral strategic and economic ties and promote a free, open, and prosperous Indo-Pacific.” Shreerupa Mitra, USIBC’s Deputy Managing Director, highlighted that this confirmation comes at a key time for U.S.-India relations, with India taking up the G20 presidency for the first time this year. “As a vital source of high-skilled talent and a rising hub for high-value manufacturing, India has a global role to play in fortifying supply chains and achieving sustainable development goals. The confirmation of Eric Garcetti as the U.S. Ambassador to India will add necessary focus and energy behind these efforts, ultimately helping both our countries achieve critical goals in decarbonization, human development, and economic resilience.” On behalf of USIBC, Ms. Mitra added that the Council is grateful for the strong stewardship shown to date by Ambassador Beth Jones as Chargé d'Affaires.The U.S.-India Business Council has played an active role in enhancing bilateral trade between the world’s oldest and largest democracy since 1975, working across eight administrations from both parties and 15 ambassadors to foster long-term public-private partnerships and business-to-business ties. As a part of the U.S. Chamber of Commerce, USIBC strongly believes that America must once again lead on trade. Enhancing bilateral trade with India is vital to Washington’s efforts to fortify key supply chains, boost our economic competitiveness, and promote America’s global leadership.

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NSA Doval highlights need to convert intentions, ideas into actions at USIBC roundtable

National Security Advisor Ajit Doval on Monday (local time) highlighted the need to convert intentions and ideas into actions and specific deliverables through focused steps in a time-bound manner at the inaugural launch of the US-India Initiative on Critical and Emerging Technologies (iCET), according to the sources.

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The U.S. Chamber of Commerce Urges Increased Cooperation at Executive Roundtable Ahead of the U.S.-India Initiative on Critical and Emerging Technologies

WASHINGTON, D.C. — Yesterday, the U.S. Chamber of Commerce’s U.S.-India Business Council (USIBC) hosted U.S. Secretary of Commerce Gina Raimondo, U.S. National Security Advisor Jake Sullivan, and Indian National Security Advisor Ajit Doval in advance of the inaugural launch of the U.S.-India Initiative on Critical and Emerging Technologies (iCET).Announced during U.S. President Joe Biden and Indian Prime Minister Narendra Modi’s bilateral talks in Tokyo last May, the iCET is spearheaded by the National Security Councils of both countries and focuses on strengthening the U.S.-India partnership on the technologies that will drive global growth, bolster both countries’ economic competitiveness, and protect shared national security interests.In support of the iCET, the U.S. Chamber of Commerce held a roundtable with industry executives across the spectrum of advanced technologies, including semiconductor design and manufacturing, commercial electronics, advanced telecommunications, commercial space, aerospace and defense, and information technology services. Leadership from academia and venture capital firms also participated.“The U.S. Chamber strongly supports the launch of this important dialogue on critical and emerging technologies,” said U.S. Chamber of Commerce President and CEO Suzanne P. Clark. “We commend the administration on working with India to launch the iCET. By strengthening our technology partnership with India, we will make both our economies stronger and ready to shape the next phase of global growth.”U.S. Secretary of Commerce Gina Raimondo attended the roundtable to highlight the central role the U.S. and India would play in shaping the development of advanced technologies.Roundtable participants discussed opportunities to promote development of critical and emerging technologies such as quantum computing and artificial intelligence, with a special focus on how to increase academic and government research exchanges and strengthen their linkages with the private sector. A key theme throughout the roundtable was how both governments could facilitate deeper alignment on technology issues, including encouraging semiconductor supply chain resilience, deepening the two countries' research and development collaboration, strengthening workforce and education connectivity, and promoting co-investment and co-development.Addressing industry executives, NSA Sullivan said that “iCET is about much more than technology cooperation, it's a platform to accelerate our strategic convergence and policy alignment.” Highlighting the work ahead for both governments, Sullivan added that the United States and Indian governments “want to establish a list of 'firsts',” "firsts in removing barriers—on both sides—to enable greater ambition by all of you."NSA Sullivan highlighted how iCET will accelerate the United States’ strategic technology partnership with India and advance the two countries’ shared democratic values. He also recognized the pivotal role that businesses, educators, and investors play, urged attendees to be ambitious in deepening business and academic ties, and committed to working with NSA Doval to remove barriers on both sides.NSA Ajit Doval and Ambassador Sandhu highlighted India’s remarkable capacity for technology development and absorption and emphasized India’s use of technology not only as an enabler of economic growth but as an instrument of social inclusion. Both officials commended the launch of the iCET, given the natural complementary strengths of the Indian and American economies and the growing strategic convergence between both nations. Both officials also emphasized India’s growing role a trusted supply chain partner and contributor in the global technology value chain, and underlined the importance of easing export control measures to facilitate technology access, co-production, and co-development between India and the U.S.In one of the sessions, the roundtable discussed microchips as a critical technology and the important role the U.S.-India relationship could play in building a reliable semiconductor supply chain. Sanjay Mehrotra, President and CEO of Micron Technology, discussed the importance of government-industry collaboration in this effort. “It is promising to see the U.S. and India prioritize the necessary discussions and investments that will enable greater semiconductor leadership within and among partner economies. The U.S. Chamber of Commerce, as a major advocate for the CHIPS and Science Act and now the host of the U.S.-India iCET dialogue, is creating compelling opportunities for public-private partnership that will ultimately strengthen our economies. Micron looks forward to continuing to work with both governments, the Chamber, and industry as part of this key forum.”Edward Knight, Executive Vice Chairman of NASDAQ, and Chair of the USIBC Global Board of Directors, stated that “both governments choosing USIBC to host this dialogue only reaffirms its position as the leading convener of public-private consultation in the U.S.-India Corridor.” Knight added, “the U.S. and India pursuing this initiative on critical and emerging technologies demonstrates their growing alignment and sends signals of confidence to the investment community.”The U.S. Chamber of Commerce will continue conversations with India on critical and emerging technologies as part of its close engagement with its G20 agenda, and as a chair of the B20.

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India, US Establish New Trade Group To Strengthen Supply Chains

At a meeting co-chaired by India's trade minister, Piyush Goyal, and U.S. Trade Representative Katherine Tai, the countries agreed to continue close monitoring of visa issues and increase dialogue on food and agricultural trade issues in 2023.

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India, U.S. establish new trade group to bolster supply chains

India and the United States have established a new working group to build sustainable supply chains and boost bilateral trade.

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U.S. Chamber Statement on U.S.-India Trade Policy Forum

WASHINGTON, D.C.— Ambassador (ret.) Atul Keshap, President of the U.S. Chamber of Commerce’s U.S.-India Business Council, issued the following statement on the U.S.-India Trade Policy Forum, taking place in Washington, D.C. on January 11, 2023:“American companies are increasingly looking to India as a growing consumer market, critical talent pool, and a high-trust geography for resilient and secure supply chains. With the business community facing a volatile geopolitical environment and a potentially challenging year for growth, strengthening U.S.-India trade ties is an essential and pressing responsibility.“The business community is hoping that both governments approach the U.S.-India Trade Policy Forum with a sense of vision, urgency, and ambition. To sustain progress on trade, both governments can usefully work together to make steady and incremental progress that sends signals of confidence, convergence, and trust to both our business communities. Implementing already negotiated agreements will also bolster investor confidence. Waiting for all-or-nothing comprehensive agreements will only slow our shared goal of achieving a $500 billion trade relationship. “An enabling trade environment will help our societies sharpen their edge in critical and emerging technologies and retain competitiveness on the world stage. As both governments negotiate difficult and intricate trade provisions, we are encouraged by their awareness that greater commercial engagement between the world’s two largest democracies is vital if free societies are to shape the future of global prosperity.”

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Gautam Adani becomes world's second richest person: Forbes data

According to Forbes’ Real-Time Billionaires List, Adani and his family’s net worth as of early Friday stood at $155.4 billion against Arnault’s $155.2 billion.

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Business News | India to Be a USD 300 Bn Electronics Manufacturing Industry by 2025-26: Rajeev Chandrasekhar

Get latest articles and stories on Business at LatestLY. The U.S. Chamber of Commerce's U.S.-India Business Council (USIBC)'s India Ideas Summit 2022 saw Rajeev Chandrasekhar, India's Minister of State for Electronics and IT participate in a panel discussion on data governance and advanced manufacturing. Business News | India to Be a USD 300 Bn Electronics Manufacturing Industry by 2025-26: Rajeev Chandrasekhar.

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Gautam Adani To Receive USIBC Global Leadership Award

Gautam Adani To Receive USIBC Global Leadership Award
businessworld.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessworld.in Daily Mail and Mail on Sunday newspapers.

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TLDR: Airtel, WhatsApp, Twitter, QAnon, CarDekho, bitcoin, legal tender

Here's a quick roundup of important developments in tech policy.

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