The 6th India-US CEO Forum convened in Washington on Wednesday, co-chaired by Union Commerce Minister Piyush Goyal and US Secretary of Commerce Gina Raimondo. The forum aimed to enhance collaboration in technology and research and development (R&D) across critical sectors, including defense, space, semiconductors, telecommunications, artificial intelligence (AI), and clean energy.
Productive Discussions
In a post shared on X, Minister Goyal emphasized the constructive nature of their discussions. He noted:
“Held a productive meeting with the US Secretary of Commerce @SecRaimondo, over lunch on the sidelines of the India-US CEO Forum.
“Our discussions focused on prospects of tech and R&D collaboration in critical sectors such as defence, space, semiconductors, telecom, AI and clean energy.
“We also discussed opportunities for US investments in upcoming 20 industrial cities in India to foster mutual growth.”
Purpose of the CEO Forum
The India-US CEO Forum serves as a vital platform that brings together leaders from the U.S. and Indian business communities. Its primary objective is to formulate joint recommendations to bolster bilateral commercial ties and expand trade and investment between the two nations.
During the meeting, representatives from both governments, along with CEO Forum members, reaffirmed their dedication to enhancing bilateral commerce and trade. They emphasized the need to drive inclusive economic growth and innovation while fostering a resilient partnership, according to a statement from the US Department of Commerce.
Acknowledging Leadership and Progress
Both Minister Goyal and Secretary Raimondo expressed gratitude to James Taiclet, President and CEO of Lockheed Martin, and N. Chandrasekaran, Chairman of Tata Sons, for their leadership as Private Sector Co-Chairs for the years 2023–2024. They acknowledged the recommendations made by Forum members over the past two years and highlighted significant initiatives resulting from their collaboration.
One notable accomplishment is the launch of the publicly accessible Network for Innovation and Harnessing Investments and Trade for Inclusive Growth between the United States and India (NIHIT) Platform. This platform aims to facilitate online knowledge sharing and networking among U.S. and Indian startups and small businesses. So far, NIHIT has organized four workshops focusing on capacity building and skilling in cybersecurity, digital technologies, and AI, attracting over 1,000 startups, small businesses, and entrepreneurs.
Recent Announcements by CEO Forum Members
The CEO Forum comprises representatives from 22 U.S. companies and 25 Indian companies, and its members have made a series of recent announcements that demonstrate their commitment to enhancing U.S.-India commercial engagement:
Lockheed Martin and Tata Advanced Systems Limited
Lockheed Martin and Tata Advanced Systems Limited recently signed a teaming agreement concerning the C-130J Super Hercules aircraft. This agreement lays the groundwork for establishing a maintenance, repair, and overhaul facility in India to support the Indian Air Force’s (IAF) fleet and other global C-130J Super Hercules fleets. Additionally, it aims to expand the manufacturing and assembly of these aircraft in India to support the IAF’s Medium Transport Aircraft program.
Kyndryl Inc. and CreditAccess Grameen
Kyndryl Inc. has partnered with Indian microfinancier CreditAccess (CA) Grameen to provide advanced technology services necessary for digitizing and transforming CA Grameen’s microloan processing business. This initiative will enable over 2 million women borrowers to access credit quickly and easily in rural India.
Amneal Pharmaceuticals
This week, Amneal Pharmaceuticals announced the launch of medicines across several new therapeutic areas, along with the groundbreaking of a state-of-the-art peptide manufacturing facility in Ahmedabad, India.
Honeywell International
In September, Honeywell International successfully delivered and commissioned a 1.4 MWh Battery Energy Storage System (BESS) for a project by the Solar Energy Corporation of India on the Lakshadweep Islands. This initiative marks India’s first on-grid solar project utilizing BESS to manage renewable power supply.
Pfizer
Pfizer launched its first commercial analytics center in India, named the “Analytics Gateway,” in September. This center will leverage AI and advanced data science techniques to enhance Pfizer’s analytics capabilities in international markets, ultimately improving the distribution of its medicines to patients in India and worldwide.
Viasat
In September, Viasat signed a Memorandum of Understanding (MOU) on Space Collaboration with the Government of India, outlining a roadmap for cooperation in the development of next-generation space technologies. This collaboration aims to deliver high-speed, high-capacity internet services to users in India and internationally.
Otis Worldwide
In August, Otis Worldwide began expanding its manufacturing facility in Bengaluru, India. This expansion aims to double the company’s current escalator production capacity, enhancing its ability to support metro projects and other residential, commercial, and infrastructure developments throughout India.
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