Delhi school of economics, University in New Delhi, India

Washington [US], June 14 : The US Department of Commerce is committed to advancing US commercial ties and this growing economic partnership between India and US is possible as the two nations share a set of common values that "are grounded in our democratic traditions," Pamela Phan, Deputy Assistant Secretary for Asia at the US Department of Commerce, said.Speaking at the US-India Business Council (USIBC) 48th India Ideas Summit in Washington on Tuesday, Pamela Phan said, "The Department of Commerce is committed to advancing US Commercial relations, and it's really being driven by a view that this is a growing economic partnership and this growing economic partnership is made possible because India and the US really share a set of common values that are grounded in our democratic traditions. We also share a commitment to promoting free, open rules-based order across the Indo-Pacific."Pamela Phan said that the US Department of Commerce is guided by the White House Indo-Pacific strategy and they are looking to strengthen their long-term position in the Indo-Pacific region. She said that they are negotiating along with India and 12 other partners in the Indo-Pacific region on an Indo-Pacific economic framework for prosperity."We at the Department of Commerce are guided by the White House Indo-Pacific strategy, and as part of that, we're looking to strengthen our long-term position in the Indo-Pacific region, and we're also looking to demonstrate that we're committed to the relationships that we have there. This includes deepening, important strategic relationships like the one we have with India. We are engaged bilaterally. We are also negotiating alongside India and 12 other partners in the Indo-Pacific region on an Indo-Pacific economic framework for prosperity," Pamela Phan said.Pamela Phan said that US Secretary of Commerce Gina Raimondo's remarks at the India Ideas Summit showcased the enthusiasm that the US has about expanding commercial ties with Ind. She also spoke about Raimondo's visit to India in March, where she co-chaired the US-India CEO Forum and the US-India Commercial Dialogue."The Secretary provided remarks at this event, and I think that on the basis of her remarks, you can see the enthusiasm that we have about expanding the US-India commercial relationship. She was able to visit India earlier this year, in March and had a series of engagements with the government, the private sector, university, the media, and she co-chaired, along with her counterpart at the Ministry of Commerce and Industry two key engagements - the US India CEO Forum and the US India Commercial Dialogue. Both of which she and Minister Piyush Goyal co-lead," Pamela Phan said.Speaking about the CEO Forum, Pamela Phan said that the forum comprises 18 US CEOs and 26 Indian CEOs who are working together to provide recommendations to the two governments as to how we can advance the commercial relationship. She stated that the themes and priorities of the CEO Forum have been focused on themes identified by Raimondo and Goyal."The themes and priorities that the CEO Forum have been focused on are themes identified by the Secretary and the Commerce Minister, and those include supply chain resilience, also enhancing energy security, advancing inclusive digital trade, and facilitating the post-pandemic economic recovery, especially for small businesses. So, those are the four buckets under which we're really trying to drive progress in the relationship," Pamela Phan said."In March, we came out with a series of outcomes from the Commercial Dialogue, including on semiconductor industry cooperation, so strategic trade controls, as well as a working group on talent innovation and inclusive growth. So, we are looking at using this as a way to reaffirm the strategic relationship between the two countries and under those four buckets driving those priorities," she added.Meanwhile, US Secretary of Commerce Gina Raimondo emphasized that Prime Minister Narendra Modi's upcoming visit to the US will serve as an opportunity to enhance the commercial and strategic technology partnerships between the two nations. She specifically mentioned sectors such as defence, semiconductors, and clean energy as areas of focus.Speaking at the US-India Business Council (USIBC) 48th India ideas summit in Washington on Tuesday, Raimondo said, "We're aiming to lift up and connect our dynamic innovation ecosystems, address regulatory hurdles to cooperate, and further bolster our shared vision of an elevated strategic technology partnership. On June 22, President Biden will host PM Modi for an official state visit to the United States. This will be an opportunity to elevate our government's commercial and strategic technology partnerships, including in defence, semiconductor supply chains, clean energy and space."Delivering a virtual address at the Summit, Raimondo recalled her India visit in March this year and said that it was a fantastic experience and a great way to learn about an important part of India's culture. Raimondo acknowledged the excitement for collaboration with India within the Indo-Pacific economic framework and highlighted the recent announcement of a significant global supply chain agreement aimed at enhancing resilience, diversity, and security.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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