US India Business Council president says India’s economic rise is going to be one of the greatest stories in the 21st century…reports Asian Lite News
US India Business Council (USIBC) president Atul Keshap on Thursday said India’s growth “is going to fuel America’s prosperity in the 21st century”.
Addressing the US-India Summit on US-India Economic Relations, Keshap said, “As India grows, it is clear that it will help fuel not only India’s prosperity, it’s also going to fuel America’s prosperity in the 21st century. So, let’s be more ambitious, let’s demand more of our government and let’s expect more liberalisation of trade and investment in both directions. The happiness of our people is at stake.”
The USIBC president also said he had never seen anywhere growing as fast as India. Keshap said India’s economic rise was going to be one of the happiest and greatest stories in the 21st century.
“The United States will complement that rise because we have a demographic advantage. We have an immigration and entrepreneurship engine in our country and we have vision, hope and, I think, great commitment to the future happiness of the United States, making India will help complement that.”
He said, “And so, we’ll make an America in a way it ensures that we have muscle and sinews and robust strength, to power the world. USIBC is committed to that, our numbers committed to that, US Chambers committed to that.”
On the Covid pandemic, he said, “The pandemic may have been a cruel master but it taught us — democracies — that however complicated and problematic in our process, at the end of the day democracies take care of their people and democracies can trust each other.
He added, “The pandemic reinforced the bond of trust and affection between the American and the Indian people.”
The USIBC president said, “What we need to do is push the accelerator. US and India have to achieve that ‘escape velocity’. That was a slogan given to me by a friend who is in the White House.”
GE working with India on jet engines for LCA, AMCA
GE is open to the transfer of technology to India for the indigenous manufacture of engines for light combat aircraft LCA Mark2 by 2028 as it does not want to lose a big market o Europe.
American Congressman Ro Khanna said, “Let’s make sure the GE Engines deal gets completed with India so we don’t lose out to Europe.” He stated that India and US need to be stronger on defence. He said that India wants jet engines and the first thing is to make sure that deal gets done before Prime Minister Narendra Modi’s visit to the US. On the commercial side, Air India announced the biggest-ever purchase by an Indian airline of aircraft and jet engines, including 400 single-aisle and 70 twin-aisle planes powered by engines built by GE and CFM International, a 50-50 joint company between GE and Safran Aircraft Engines. The blockbuster deal, ranking near the top of all deals worldwide, signalled the recovery of commercial aviation after years of Covid shutdown.
GE also announced agreements that deepen the company’s investment in India’s military. One expands GE’s most significant partnership within the Indian armed forces — its work with Hindustan Aeronautics Limited (HAL), the government’s aerospace and defense manufacturing firm.
HAL continues to assemble the GE F404 family of engines that have powered each generation of the Tejas, the light combat aircraft (LCA) that evolved from that project.
“We need to be stronger on defence, and this is a key time. India has realized that the Soviet military equipment doesn’t work as well. They realize Soviet Union is moving towards China, and they have really been open to building a strong relationship with America,” Ro Khanna said.
“They want these jet engines, and the first thing is to make sure that deal gets done, hopefully before the Prime Minister’s visit. And many of us are working on that,” he added.
Speaking about Prime Minister Modi’s visit to the US, he said, “It’s going to be a historic trip.” He said that they are working to ensure that Prime Minister Narendra Modi gets to make an address at the US Congress. He further said, “The co-chairs will be requesting the speaker to issue that invitation.”
Earlier in February, Defence Research and Development Organisation (DRDO) chairman Samir Kamat said that GE-414 engines are going to be used in the LCA Mark2. He said that the discussions are ongoing regarding the GE and India is awaiting clearance by the US.
Samir Kamat said, “The GE-414 engines are going to be used in the LCA Mark2. The discussions with GE are underway and they are keen on it. We are just awaiting clearance by the US government.”
Kamat said the engines would be manufactured indigenously once the clearance comes through from the US government. He said that the matter was discussed during National Security Adviser Ajit Doval’s visit to the United States.
“The matter was discussed during our NSA (Ajit Doval’s) recent US visit. The US government said it was open to it (indigenous manufacture of engines). Hopefully, in the next 3-6 months, an announcement of the transfer of technology will happen and these engines would be made in the country itself,” he said. (ANI)