Washington. US Secretary of State Antony Blinken said ahead of Indian Prime Minister Narendra Modi’s visit to the US that the economic relationship is central to the India-US strategic partnership and both countries are helping to shape the innovations of the future and the rules that govern them. . President Joe Biden and First Lady Jill Biden have officially invited Prime Minister Modi. A state dinner will also be given in Modi’s honor on June 22.
Addressing the annual ‘India Summit of America India Business Council (USIBC) here on Monday, Blinken said, our economic ties are at the heart of our strategic relationship. These ties are getting stronger day by day under the leadership of President Joe Biden and Prime Minister of India Narendra Modi and private sector stalwarts like you.
US Secretary of State Blinken said that last year the trade between the two countries reached a record $191 billion and with this the US became India’s largest trading partner. American companies have invested at least $54 billion in India, from manufacturing to telecommunications. He said Indian companies in the US have invested more than $40 billion in information technology, pharmaceuticals and other sectors, supporting 4,25,000 jobs from California to Georgia. The External Affairs Minister said in February, Air India announced the purchase of over 200 Boeing aircraft, which would support an estimated one million jobs across 44 states.
He said, we are here before the historic visit of Prime Minister Modi, which will further strengthen the relationship which President Biden has described as the important relationship of the 21st century. India joins the three pillars of our new Indo-Pacific economic architecture – a commitment to building more resilient supply chains, seizing clean energy opportunities and tackling corruption, he said. From artificial intelligence to quantum computing, together we are helping to shape the innovations of the future and the rules that govern them, the External Affairs Minister said. He also said that in the month of January USIBC had started ‘Roundtable’ where governments of both the countries started a new initiative on important and emerging technology.
We are growing and expanding strategic technology partnerships between governments, businesses and academic institutions in the US and India, he said. He said the US International Development Finance Corporation has given $500 million to a leading American company to help set up a solar manufacturing facility in Tamil Nadu. The project will power approximately 30 million bulbs in homes, schools and businesses in India, creating over a thousand jobs for Indians and Americans. Prime Minister Modi will pay a state visit to the US this month at the invitation of President Joe Biden and First Lady Jill Biden. His four-day visit will begin on June 21.
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