US Chamber of Commerce’s US-India Business Council, Confederation of Indian Industry host Sitharaman
The US Chamber of Commerce’s US-India Business Council (USIBC) co-hosted India’s Minister of Finance and Corporate Affairs Nirmala Sitharaman for an exclusive member roundtable at US Chamber headquarters in Washington DC, Monday evening in partnership with the Confederation of Indian Industry (CII).
The roundtable focused on how the US and India could strengthen trade and investment ties amidst a dynamic macroeconomic environment, and India’s increasingly important role as a destination for global investment. In addition to Finance Minister Sitharaman, the roundtable was attended by Ambassador Taranjit Singh Sandhu, Indian Ambassador to the United States, Ajay Seth, Secretary, Department of Economic Affairs, Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, V Ananth Nageswaran, Chief Economic Advisor to the Government of India, USIBC Board Chair Edward Knight, members of the USIBC Global Board of Directors, and representatives from companies across key sectors.
Finance Minister Sitharaman addressed the roundtable, highlighting opportunities that India, under the current government, is creating for the global industry to participate in the nation’s growth story.
In her remarks, Minister Sitharaman emphasised that policy consistency and pursuit of reforms despite the pandemic have been a hallmark of the government’s approach. The Minister highlighted the impact of digitalisation and economic formalisation at length, stating that India meets the requirements of a fair transparent economy due to its achievements in transitioning to digital payments and integrating the informal sector. In the end, she invited the investor community to participate in and make the most of the opportunities that India has to offer, now and going forward.
The Indian Ambassador to the United States, Taranjit Singh Sandhu, also addressed the roundtable attendees and highlighted that as the President of G20, India is committed to multi-stakeholder engagement.
He said, “We are trying to be a voice not only for the people who are in the room, but those who are outside of it. The G20 is touching all stakeholders.”
Ambassador Sandhu commended the US and India’s achievement in crossing USD 190 billion in bilateral trade last year. He underscored that the Ministry of Finance seeks the business community’s ideas and candid feedback as they seek to continue progress on the economic partnership.
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