September 15, 2021
2 mins read

India, US trade to reach $500 bn by 2025

Gadkari was of the view that both India and the US would play a major role in the post-Covid global economic recovery….reports Asian Lite News

India’s Minister for Road Transport and Highways Nitin Gadkari has said that the bilateral trade between India and the US has grown from $16 billion to $ 149 billion in the last two decades.

Gadkari said, “The trade is projected to reach $500 billion by 2025.”

Addressing the 17th Indo US Economic Summit ‘Bouncing Back-Resilient Recovery Path Post Covid-19’, he said, “I strongly believe that two countries – India and the US – have an important role to play post-Covid economic recovery. There should be informed discussion at the various levels since the recovery needs new ideas and approaches. Since the global depression that has happened in the 1920s, the current situation is the biggest challenge that mankind has ever faced.”

He added, “We need a new thought process and a creative agenda to view a new pathway to recovery. World largest vaccination drive is running in the country to make pandemic-free India.”

Gadkari added, “I sincerely hope that more and more US investors will invest in road & highway projects in India which is a gold mine for all stakeholders. They have a tremendous opportunity for investment in the road infrastructure.”

He also asked the US investors, particularly insurance and pension funds, to invest in India’s road and highway infrastructure.

He assured better returns for the investors compared to those garnered in the US.

About the government’s efforts to boost production and adoption of alternative transport fuel such as ethanol and emphasis on last mile connectivity through several modes of transport, he noted that there are opportunities for American companies to invest in research and development of mobility technology in the country.

Gadkari was of the view that both India and the US would play a major role in the post-Covid global economic recovery.

Lalit Bhasin, the Summit Chair, noted that the pandemic presented innumerable challenges in economic fronts, but such challenges are also opportunities that can motivate for scaling up in the bilateral economic value chain.

“Pandemic has taught us to reform the business models, to go further up in the digital space, become more inclusive and at the same time global in our outlook,” he said

Rohit Kochhar, Regional Vice President, IACC described the current period as a “watershed moment” for the Indo-US relations.

“I say this because our partnership is not just centered around business and economics, but also assumes great significance in view of recent geo-political developments. Increasingly, there are a host of areas where our concerns and interests are both intertwined and complementary,” he said.

ALSO READ: US govt pressuring India to restart Covid-19 vaccine exports

Previous Story

General Milley secretly called China over fears Trump could spark war

Next Story

Blinken to meet with Israel, three Arab states on normalisation

Latest from -Top News

UAE Takes Part in 3rd BRICS Sherpa Meeting

For the UAE, BRICS provides a valuable platform for dialogue and policy coordination across regions….reports Asian Lite News Saeed Mubarak Al Hajeri, Assistant Minister for Economic and Trade Affairs and the UAE’s

7/7 London & 12/3 Bombay – Tale of Two Cities

The 7/7 bombings changed London forever. The Victorian-era Tube system still struggles with outages and emergencies. A minor fire or power failure still sends people scrambling in fear.  I saw the same

Khamenei Breaks Cover in Tehran

Iran’s Supreme Leader makes first public appearance since conflict with Israel, as mystery over his wartime absence continues. Iran’s Supreme Leader Ayatollah Ali Khamenei made his first public appearance on Saturday since

Macron Eyes UK Shift on Palestine

While both France and the UK agree in principle on recognising a Palestinian state, there are significant differences over the timing and political conditions…reports Asian Lite News French President Emmanuel Macron is

‘Global firms profiting from Gaza genocide’

Report by Francesca Albanese singles out companies such as Palantir and calls for prosecutions…reports Asian Lite News The UN special rapporteur on human rights in the occupied Palestinian territories has called for
Go toTop

Don't Miss

Modi condoles demise of Iran’s President Raisi

PM Modi said his contribution to strengthening ties between the

US govt may authorise Pfizer shot for kids aged 5 to 11 in Oct

The decision on whether to authorise a vaccine for younger