India-U.S. CEO Forum Convened to Strengthen Bilateral Economic Ties

The Forum operates in tandem with the U.S.-India Commercial Dialogue, providing strategic input to foster a more robust economic partnership between the two nations.

The India-U.S. CEO Forum, co-chaired by Union Minister of Commerce and Industry, Shri Piyush Goyal, and U.S. Secretary of Commerce, Ms. Gina Raimondo, convened today in Washington D.C. This forum serves as a vital platform for private sector leaders to propose recommendations aimed at enhancing the economic relationship between India and the United States, reflecting their views and concerns on bilateral trade and investment.

The Forum operates in tandem with the U.S.-India Commercial Dialogue, providing strategic input to foster a more robust economic partnership between the two nations. Private sector leadership includes Mr. N. Chandrasekaran, Chairman of Tata Sons, and Mr. James Taiclet, President and CEO of Lockheed Martin, who guide discussions involving 16 participating CEOs. This is the third convening of the Forum since its reconstitution in November 2022, with both governments recognizing the progress made in various initiatives over the past two years.

During the forum, CEOs presented priority areas under seven working groups, focusing on enhancing partnerships across critical sectors, including:

Entrepreneurship and Promoting Small Businesses

Healthcare and Pharmaceuticals

Aerospace and Defense

Information and Communication Technology (ICT) and Digital Infrastructure

Energy, Water, and Environment

Infrastructure and Manufacturing

Financial Services, Trade, and Investments

Key discussions revolved around advancements since the last meeting in March 2023, including the launch of an "innovation handshake" and the establishment of a knowledge-sharing platform called NIHIT (Network for Innovation and Harnessing Investments and Trade).

Both Indian and U.S. representatives reaffirmed their commitment to strengthening commercial and trade relations, driving economic growth and innovation, and fostering a resilient bilateral partnership.

Earlier in the day, Minister Goyal began his third day in the U.S. with a floral tribute at the Mahatma Gandhi Memorial near the Embassy of India in Washington D.C., commemorating Gandhi’s 155th birth anniversary. Following this, he held a luncheon meeting with Secretary Raimondo, where they discussed mutual interests, including enhancing cooperation in critical minerals supply chains—an area emphasized by the CEO Forum. They also explored opportunities to attract increased U.S. investment in India, particularly in new industrial cities being developed across the country.

This forum continues to play a crucial role in guiding policy and creating opportunities for collaboration between the two nations, paving the way for a stronger economic future.