The apex business chamber Assocham and the Federation of Indian Export Organisations (FIEO) lauded Prime Minister Narendra Modi’s visit to the US as a pivotal moment in fortifying India-US trade and investment relations.
The joint statement following the meeting between Prime Minister Modi and President Donald Trump in Washington, DC, highlights the ongoing trust and strengthening of the strategic partnership between India and the US, said Assocham president Sanjay Nayar.
Several tangible outcomes emerged from the PM’s visit, including enhanced cooperation in defense, counterterrorism, energy security (both fossil fuels and nuclear power), trade and investment, and leveraging India’s human capital. Another significant outcome is the development of a US-India roadmap for accelerating AI infrastructure by the end of the year. Nayar emphasized that the ambitious target of $500 billion in bilateral trade by 2030 is achievable, and the agreement on negotiating a Bilateral Trade Agreement (BTA) would pave the way for new trade and investment opportunities.
FIEO president Ashwani Kumar noted that the visit marked a significant step toward deeper economic cooperation, expanding trade, boosting investments, and solidifying strategic ties between the two nations. He observed that the discussions represented a milestone in the growing economic relationship between India and the US, with the US emerging as one of India’s largest trading partners.
The focus on technology, defense, and green energy will particularly benefit India’s export sectors and enhance global competitiveness. The increased investment focus will fuel new industries and job creation in India, providing a major boost to the ‘Make in India’ initiative and driving demand for Indian exports.
Kumar highlighted the importance of enhancing bilateral trade by eliminating barriers and streamlining processes. Key focus areas include technology, healthcare, agriculture, and textiles, with the ambitious goal of reaching $500 billion in bilateral trade by 2030 under “Mission 500.”
He appreciated the early timeline for a multi-sector BTA by Fall 2025, aimed at increasing market access, reducing trade barriers, and improving supply chain integration. The discussions led to announcements of initiatives to boost US investments in India, particularly in renewable energy, defense, infrastructure, and technology. These investments will create new opportunities for Indian exporters and position India as a key hub for innovation and manufacturing.
A major emphasis was placed on enhancing cooperation in IT, AI, and 5G infrastructure, opening up significant growth potential for Indian tech businesses in the US market.
