US-India Economic Relations: Critical and Secure

On June 18, 2019, the Meridian Corporate Council partnered with Boeing and S&P Global to host His Excellency Harsh Vardhan Shringla, Ambassador of India to the United States for a breakfast and conversation on US-India economic relations.

Prime Minister Narendra Modi’s began his second term on May 30, 2019 after he was elected by a majority, meaning he does not have to form a coalition government. Ambassador Shringla discussed how he plans to use the five-year term to implement far-reaching economic reforms that impact everything from land-use to foreign investment. The Indian government hopes to increase rate of growth of the economy, and they recognize the importance of US investment in the developing country.

Additionally, Ambassador Shringla spoke about how India is responding to the digital age. The government is encouraging its rapidly growing population to participate in formal banking institutions, increase its use of e-commerce and enroll it the country’s digital ID system. Ambassador Shringla also talked about how the government values Indian’s privacy and hopes to implement measures early to guide the transformation in a sustainable way. The countries digital transformation will connect its population to the global marketplace and lay the groundwork for the future generation.

In Modi’s planning for future generations, he is leading the charge to invest in the nation’s infrastructure, energy and healthcare sectors, a change the ambassador says will not be possible without the help of the United States and American businesses. The United States, in many ways, is helping India, but Ambassador Shringla also says that India can help the United States as well in mutually beneficial partnerships.

The long-term partnership between the United States and India appeared secure to the Meridian Corporate Council and many are looking to strengthen economic ties even more.

Photos by Jessica Latos.

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