On 14th July 2020, the India-US CEO Forum was held through a telephonic conference. It is the fifth time that the Forum has assembled since its reconstitution in December 2014 by the Government of the US and India.
The conference was jointly chaired by Mr.Piyush Goyal, Minister of Commerce & Industry and Railways, India and Mr. Wilbur Ross, US Secretary of Commerce.
The CEO Form, comprised of CEOs from leading companies of both nations, was co-chaired by N. Chandrasekaran, Chairman of Tata Sons, and James Taiclet, President and Chief Executive Officer, Lockheed Martin.
Opening remarks by the US Secretary Ross, Minister Goyal & the Co-Chairs
- In his opening remarks, US Secretary Ross thanked Minister Goyal, co-chairs, and all forum members for their participation in strengthening the bilateral relations between the two nations, especially in COVID-19 through medical equipment, pharmaceuticals, and associated support.
- Minister Goyal emphasized the strong shared interests of both the nations in building global stability, security, and economic prosperity. He stressed on the need to promote small businesses and the need to increase employment and skilled labor.
- The India Co-Chair, Mr. Chandrasekaran urged the US government to recognize the contribution of India’s human capital to the US economy, thereby encouraging cross border mobility of talent.
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Ambassador Juster and Ambassador Sandhu’s emphasis on the critical role played by Forum Members
- Ambassador Juster urged to focus on the vast untapped potential of the India-US commercial relationship and also asked the forum members to come up with policy level suggestions that can help in the post COVID world.
- Ambassador Sandhu recognized the critical role played by the CEO Forum in developing the India-US partnership that helped bring the private sector’s perspectives in developing reforms.
- Post the opening remarks, CEOs from both sides praised the two governments for implementing the reforms and policies in line with the suggestions that were made in the previous meeting held in February 2019, at New Delhi.
- A new set of reforms and policy recommendations deliberated jointly by all working groups was presented.
- They focused mainly on key sectors like Healthcare & Pharmaceuticals, Aerospace & Defence, Infrastructure & Manufacturing, Energy, Water & Environment, ICT & Digital Infrastructure and Financial Services, Trade & Investment.
In his closing remarks, DPIT Secretary Mohapatra urged to further grow the India-US bilateral relationship
- DPIT Secretary Mohapatra commented on the extraordinary India-US bilateral relationship that has only further grown in terms of trade, investment, and connectivity.
- In the end, government representatives and CEOs from both sides expressed their willingness and commitment to work towards future growth in commerce and industry in both countries.
Secretary Ross and Minister Goyal ended the conference by expressing their resolve to work together and consider recommendations that will help strengthen bilateral ties between both the nations in the post COVID world.