USIBC Applauds Ambitious Union Budget Strengthening Indo-Pacific Leadership

The US India Business Council lauded India's Union Budget 2024 for its measures aimed at bolstering global value chain integration and strategic Indo-Pacific leadership. The budget sets the stage for enhanced bilateral cooperation, economic expansion, and increased foreign investment by addressing key sectors such as technology, life sciences, and infrastructure.

The US India Business Council (USIBC) praised India's Union Budget 2024 for its comprehensive measures aimed at enhancing integration into global value chains and reinforcing its strategic leadership in the Indo-Pacific region.

USIBC President Atul Keshap expressed eagerness to collaborate with the Indian government to realize the full potential of Viksit Bharat and to explore new opportunities for U.S.-India partnerships across various sectors. Key budget measures, such as abolishing the angel tax, fostering venture capital for space startups, and focusing on critical and emerging technologies, were highlighted as pivotal for bilateral cooperation and innovation.

Keshap also commended Finance Minister Nirmala Sitharaman for presenting an inclusive budget that prioritizes employment, skilling, MSMEs, and the middle class. The investment in human capital, infrastructure, and reduction of tariffs will significantly bolster India's competitiveness on the global stage.

(With inputs from agencies.)