India-U.S. CEO Forum Strengthens Bilateral Economic Ties in Washington DC

Washington DC: The India-U.S. CEO Forum, co-chaired by Union Minister of Commerce and Industry, Piyush Goyal, and U.S. Secretary of Commerce, Gina Raimondo, convened today in Washington D.C. to bolster economic cooperation between the two nations. The forum served as a platform for private sector leaders to provide recommendations to both governments, aimed at deepening bilateral economic links and fostering innovation and growth.

The forum is co-chaired by N. Chandrasekaran, Chairman of Tata Sons, and James Taiclet, President and CEO of Lockheed Martin. This marks the third gathering of the forum since its reconstitution in November 2022, with 16 CEOs participating. The governments of India and the U.S. acknowledged the forum’s progress in key initiatives over the past two years, with a focus on entrepreneurship, healthcare, aerospace and defense, digital infrastructure, and sustainable growth.

During the meeting, seven working groups presented priority areas to create stronger partnerships in entrepreneurship, healthcare, aerospace, energy, digital infrastructure, and manufacturing. The CEOs emphasized the need for enhanced collaboration to drive economic growth in both countries. Key areas such as promoting small businesses, improving trade and investment, and strengthening supply chains were highlighted.

Both sides discussed the achievements since the last meeting in March 2023, including the successful launch of the “Innovation Handshake” and the creation of NIHIT (Network for Innovation and Harnessing Investments and Trade), a knowledge-sharing platform designed to foster collaboration.

Earlier in the day, Minister Goyal paid tribute to Mahatma Gandhi at the memorial across the Embassy of India in Washington D.C., marking his 155th birth anniversary. He later met with Gina Raimondo over a luncheon to discuss areas of mutual interest, including opportunities for U.S. investments in India’s new industrial cities and collaboration on critical minerals supply chains.