Piyush Goyal highlights India's economic transformation, huge potential at Nasdaq

Attending a business roundtable on Tuesday in Nasdaq, New York, Union Commerce Minister Piyush Goyal met industry leaders such as Johnson Controls CEO George R Oliver and Stephen A Schwarzman, CEO & Chairman of the Asset Management group Blackstone.

New Delhi: Commerce Minister Piyush Goyal who is on a four-day visit to New York, New Jersey, and Washington has highlighted India's remarkable economic transformation and huge potential at the business roundtable organised by India US Business Council at Nasdaq, New York.

Taking to Twitter, he said, "At the business roundtable organised by @USIBC at Nasdaq, New York, spoke about India’s remarkable economic transformation & huge potential". "Stronger India-US trade & surging crossflow of investments are adding new value & dynamism to our bilateral partnership", he added.

He also met George R Oliver, Chairman & CEO, Johnson Controls, in New York. Both exchanged views on enhancing the company’s role in decarbonization & developing sustainable buildings in India. They also discussed developing security products through R&D, the Internet of Things & Artificial Intelligence.

Besides, Minister Goyal also had an interaction with Stephen A Schwarzman, CEO & Chairman of the Asset Management group Blackstone. Both the leaders discussed expanding India's investment landscape including infrastructure, renewables & green hydrogen. They also exchanged views on the deepening of India's capital markets and private equity landscape.

Lauding India's economy and how it revived after the covid lockdown, Goyal said that 2022 was a record trade year with India's exports growing to USD 670 billion.

Union Minister of Commerce and Industry Piyush Goyal is on an official visit to New York and Washington DC from 9-11 January 2023 to participate in India - US Trade Policy Forum.

He will attend the 13th Trade Policy Forum (TPF) meeting in Washington DC on 11th January. Before delegation-level talks, he will also hold one-to-one meetings with USTR Ambassador Katherine Tai.

The 12th TPF Ministerial meeting was held on 23 November 2021 after a gap of four years in New Delhi. Working groups were re-activated after the last ministerial. TPF is a platform for continuous engagement between two countries in the area of trade and to further the trade and investment relations between the two countries.

Both countries are looking forward to the meeting and are confident of making progress on the trade issues. The TPF is chaired by Commerce and Industry Minister from the Indian side and USTR from the US side.

In Washington DC, he will also have a bilateral meeting with US Secretary of Commerce Gina Raimondo. There will also be interaction with some captains of Industry.

Both India and USA are natural partners and have trade complementarities, long-standing strategic and economic relationships, people to people contact, and both are vibrant democracies too.

The two countries are also collaborating under the QUAD, I2U2 (India-Israel/ UAE-USA), and IPEF (Indo-Pacific Economic Framework). Regular exchanges at the leadership level have been an integral element of the expanding bilateral engagement. The outcomes emerging from these visits have been instrumental in further strengthening the multifaceted ties between the two countries.