New Delhi, Feb 14 : Prime Minister Narendra Modi’s visit to the United States has been hailed as a landmark event by India’s apex business bodies, the Associated Chambers of Commerce and Industry of India (Assocham) and the Federation of Indian Export Organisations (FIEO). The visit is seen as a significant step in deepening India-US trade and investment relations.
Assocham President Sanjay Nayar emphasized that the joint statement issued after PM Modi’s meeting with US President Donald Trump in Washington, DC, reflects the strengthening trust and strategic partnership between the two nations.
He highlighted several key outcomes from the visit, including enhanced cooperation in defence, counter-terrorism, and energy security—spanning fossil fuels and nuclear power. Additionally, trade and investment received a boost, alongside a focus on leveraging India’s skilled workforce.
A major highlight of the visit was the development of a US-India roadmap to accelerate AI infrastructure by the end of the year. Nayar expressed confidence in achieving the ambitious target of $500 billion in bilateral trade by 2030. The agreement to negotiate a Bilateral Trade Agreement (BTA), he added, would open new trade and investment avenues for both nations.
FIEO President Ashwani Kumar echoed this sentiment, describing the visit as a crucial step toward deeper economic collaboration. He noted that with the US being one of India’s largest trading partners, the discussions marked a major milestone in advancing economic ties. The visit also created new opportunities for Indian exporters.
Kumar pointed out that key focus areas—including technology, defence, and green energy—would enhance India’s export competitiveness. The increased emphasis on investment is expected to drive industrial growth, generate employment, and bolster the ‘Make in India’ initiative.
He stressed the need to remove trade barriers and streamline processes to enhance bilateral trade, particularly in sectors such as technology, healthcare, agriculture, and textiles. Under the ambitious “Mission 500,” India and the US are working toward reaching $500 billion in trade by 2030.
The FIEO chief also welcomed the commitment to finalizing a multi-sector Bilateral Trade Agreement by Fall 2025. This, he said, would improve market access, reduce trade restrictions, and strengthen supply chain integration.
Several initiatives to encourage US investments in India were announced, particularly in renewable energy, defence, infrastructure, and technology. These investments are expected to create new opportunities for Indian exporters and further position India as a key hub for innovation and manufacturing.
A significant portion of discussions revolved around IT, artificial intelligence, and 5G infrastructure, which are poised to unlock immense growth potential for Indian tech businesses in the US market.
“The outcomes of this visit will not only enhance trade and investment but also solidify India’s position as a global economic player,” Kumar added. (with inputs from IANS)