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The summit called for greater collaboration between U.S. and India to achieve India’s 2047 goals
New Delhi, August 12, 2024: The American Chamber of Commerce in India (AMCHAM), the leading apex chamber of U.S. industry in India, and the only one based in India, successfully concluded AMCHAM’s U.S.-India Partnership Summit 2024 in New Delhi on August 8, 2024. The Summit emphasized on collaborative efforts to advance India’s vision for a Viksit Bharat 2047 with support from American businesses.
The summit, held alongside AMCHAM’s 32nd Annual General Meeting, explored avenues for deepening U.S.-India economic ties and driving India towards its goal of becoming the world’s third-largest economy by 2047.
Key highlights of the Summit:
Strategic discussions: Panels deliberated on strategies for achieving a $5 trillion economy by 2030, highlighting the potential of iCET and strategic trade dialogues. Emphasis was placed on empowering future generations through innovative education policies and leveraging India’s young, skilled workforce to accelerate growth.
Investment opportunities: The session on ‘India: Key Destination for U.S. Investments’ focused on transforming India into a tech-savvy and inclusive labor market, with attention to climate considerations and sustainable practices.
Smart infrastructure: Discussed smart and sustainable infrastructure for faster economic growth and the need for an integrated supply chain, integrated technology solutions and the role of AI in optimizing complex systems for smart city development.
Energy and decarbonization: The session on the energy landscape in India underscored India’s commitment to climate goals, with a focus on carbon capture and utilization, and the role of U.S. technology in supporting India’s transition to net-zero emissions.
Notable attendees from the Government of India:
Dr. Vijay Kumar Saraswat, Member, NITI Aayog
Mr. S. Krishnan, Secretary, Ministry of Electronics & Information Technology, Government of India
Mr. Rajesh Agrawal, Additional Secretary, Ministry of Commerce & Industry, Government of India
Ms. D. Thara, Additional Secretary, Ministry of Housing and Urban Affairs, Government of India
Mr. Balamurugan D. IAS, Joint Secretary, Department for Promotion of Industry and Internal Trade
The Summit had a special address by Dr. Vijay Kumar Saraswat who highlighted India’s ambitious climate goals and the critical role of U.S. industry in advancing technological innovation and achieving net zero targets. He mentioned that historically, average carbon emissions by India have been much lower than the same from developed countries of the world.
Key takeaways:
The summit threw light on the growing investment from U.S. companies in India, currently valued at $66 billion, and explored ways to enhance this engagement.
Discussions emphasized the need for India and the U.S. to collaborate on sustainable practices and advanced technologies to drive mutual growth.
Commenting on the summit theme Ms. Ranjana Khanna, Director General CEO, AMCHAM said, “with India on the brink of becoming the world’s third-largest economy the insights on the U.S.-India partnership shared today will be fruitful in exploring fresh opportunities for economic collaboration in critical technologies, core competencies focused on research and innovation and skill development.”
