On the sidelines of IPEF, Union Commerce and Industry
Minister Piyush Goyal attended ministerial-level talks on ‘Clean Economy and
Fair Economy’ on Tuesday (local time).
At the top of their meeting, the Indo-Pacific Economic
Framework (IPEF) ministers posed for a family photograph.
Besides discussion on the two pillars, ministers from
14 countries signed an agreement on the resilient chain under the Indo-Pacific
Economic Framework (IPEF) as they sought to forge an alliance to strengthen
relations and reduce dependence on China in the post-Covid period.
On Monday, other members (not including Bharat) were
unable to strike a substantial trade deal during ministerial talks, despite
their common goal of promoting a rules-based commercial order in the region
where China is growing in influence.
Bharat has so far stayed away from the trade talks
while keeping its options open for the future. A decision on the trade pillar,
which is being closely watched in US, will take some time as just around half
of it has been negotiated.
Minister Goyal attended a raft of bilateral meetings
including with Ambassador Katherine Tai, United States Trade Representative, on
the sidelines of the Indo-Pacific Economic Framework (IPEF) in San Francisco.
The two leaders held talks on the IPEF and trade pillars.
Goyal, who is on a four-day visit to US, also took
part in the Investors Round Table organised in collaboration with the US-Bharat
Strategic Partnership Forum and Indiaspora.
The event was attended by venture capitalists and
entrepreneurs from a wide spectrum of industries in US, including energy,
manufacturing, logistics, and technology, among others.
In an interactive session held in San Francisco as
part of the first leg of the tour in US, the Minister held wide-ranging
discussions with the participants and highlighted the various steps taken by
the Government of Bharat to improve the ease of doing business.
“Highlighted how the country offers promising
opportunities for investors, thanks to the unique combination of our
demographic dividend, manufacturing capabilities & conducive business
environment,” Goyal posted on X, asserting India as an attractive investment
destination for the world.
During the US visit till November 16, the Commerce and
Industry Minister will participate in the third in-person IPEF Ministerial
meeting and the engagements of the Asia-Pacific Economic Cooperation (APEC).
India has been invited to the 30th APEC Economic Leaders’ Meeting 2023 as a ‘Guest
Economy’.
Goyal arrived in San Francisco on November 13. Kicking
off the official tour, the Commerce and Industry Minister visited the Tesla
Factory Unit in Fremont and interacted with the senior executives of the Tesla
group.
Just shortly after his arrival in the US, Goyal met
with Singapore’s Minister for Trade and Industry, Gan Kim Yong. The two leaders
discussed ways to accelerate cooperation across sectors to further deepen the
economic partnership between Bharat and Singapore.
One of the key focus of the visit will be the joint
event, co-chaired with US Commerce Secretary Gina Raimondo, on the “India-USA
Innovation Handshake Initiative”, with the aim to lift up and connect the two
sides’ dynamic startup ecosystems, address specific regulatory hurdles to
cooperation, and promote further innovation and job growth, particularly in
emerging technologies.”
Piyush Goyal is expected to interact with globally
renowned technology, entrepreneurship, and academic communities in the Bay
Area, particularly in Silicon Valley, to undertake focused discussions with
American companies looking to invest or expand in Bharat across sectors –
Electronics (including semiconductors), Technology, FinTech etc.
ANI
