India, the world’s largest democracy and a key player in the Indo-Pacific region, will be an essential partner for the US in generating mutual prosperity and creating a global free world supply chain, the head of US India Business Council (USIBC) told lawmakers on Tuesday.
“As the world’s sixth largest and fastest growing economy, a site of both critical manufacturing capability and scalable research & development, robust demographics, and the world’s largest democracy, India will be an essential partner in generating mutual prosperity and creating a global free world supply chain,” said Atul Keshap, USIBC president.
Testifying before the House Foreign Affairs Committee on “Developing an Indo-Pacific Economic Framework”, he said in the competition with authoritarianism, America’s ability to work with allies and like-minded partners.
“The Indo-Pacific Economic framework can be bolstered both by constructing a trade architecture that enables strategic cooperation and creates a secure supply chain for the free world, and by spearheading an abundance agenda that raises living standards for Americans and billions of friends in the region,” he said.
“We have an opportunity to overcome hesitation on trade and show our people what we can accomplish for them through expanding our economic partnerships with like-minded partners and allies,” Keshap said.
The American diplomat had urged India and the US have a Free Trade Agreement for the protection of their businesses and the citizens of the two countries.
In his opening remarks, Congressman Gregory Meeks, Chairman of the House Foreign Affairs Committee, said the Joe Biden administration understands the significance of the Indo-Pacific region.
“Today the region faces new challenges whether it is the aggressive policies of People's Republic of China or the devastation caused by COVID-19 and climate change. Our friends and allies want us in the region as an active participant,” he explained.
