India And US Strengthen Partnership Across Technology And Trade
Technology

India And US Strengthen Partnership Across Technology And Trade

Union minister Piyush Goyal said India and the United States are natural partners with complementarity across technology innovation, high precision defence, digital data centres and quantum computing. It is strengthened by mutual trust and shared economic interests.

He said commitments from American industry in the last six months are estimated to be upwards of 60 billion (bn) dollars. India provides a trusted framework for global companies by combining scale, skilled talent and market opportunity unmatched globally.

The Government is adopting an area based approach to industrial development through Bhavya scheme aimed at creating 100 new industrial parks across the country, and the model integrates industrial infrastructure with worker housing, recreation and social amenities to create holistic ecosystems. He said improved infrastructure, lower logistics costs and free trade agreements are creating a virtuous cycle of investment, manufacturing growth and export competitiveness and expressed confidence that India will remain the world's fastest growing economy for the next 25 years, noting that growth forecasts were upgraded from six point four per cent to six point five per cent despite global crises.

Highlighting the role of micro, small and medium enterprises, he said a proposed Export Promotion Mission will help firms secure globally recognised certifications to enter international supply chains, and that agencies such as the Export Inspection Council, the Bureau of Indian Standards and FSSAI are building world class testing and quality infrastructure. He urged larger companies to support suppliers through faster payment cycles and suggested clearing approved invoices within seven days rather than the existing 45 day requirement.

On manufacturing, he said India is moving towards design, innovation and intellectual property creation and that innovations which cost billions in developed countries can be developed in India at one third or one fifth of the cost. He said India hosts 2,117 global capability centres employing 2.35 million (mn) people and generating 98 billion (bn) dollars in revenue, and added that solar power capacity has risen from less than two gigawatt (GW) to over 150 gigawatt (GW) in 12 years.

Union minister Piyush Goyal said India and the United States are natural partners with complementarity across technology innovation, high precision defence, digital data centres and quantum computing. It is strengthened by mutual trust and shared economic interests. He said commitments from American industry in the last six months are estimated to be upwards of 60 billion (bn) dollars. India provides a trusted framework for global companies by combining scale, skilled talent and market opportunity unmatched globally. The Government is adopting an area based approach to industrial development through Bhavya scheme aimed at creating 100 new industrial parks across the country, and the model integrates industrial infrastructure with worker housing, recreation and social amenities to create holistic ecosystems. He said improved infrastructure, lower logistics costs and free trade agreements are creating a virtuous cycle of investment, manufacturing growth and export competitiveness and expressed confidence that India will remain the world's fastest growing economy for the next 25 years, noting that growth forecasts were upgraded from six point four per cent to six point five per cent despite global crises. Highlighting the role of micro, small and medium enterprises, he said a proposed Export Promotion Mission will help firms secure globally recognised certifications to enter international supply chains, and that agencies such as the Export Inspection Council, the Bureau of Indian Standards and FSSAI are building world class testing and quality infrastructure. He urged larger companies to support suppliers through faster payment cycles and suggested clearing approved invoices within seven days rather than the existing 45 day requirement. On manufacturing, he said India is moving towards design, innovation and intellectual property creation and that innovations which cost billions in developed countries can be developed in India at one third or one fifth of the cost. He said India hosts 2,117 global capability centres employing 2.35 million (mn) people and generating 98 billion (bn) dollars in revenue, and added that solar power capacity has risen from less than two gigawatt (GW) to over 150 gigawatt (GW) in 12 years.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code