Indore (Madhya Pradesh): Amid strengthening of India-US relations, US Consulate General spokesperson Greg Pardo visited Free Press House recently and underscored the deepening partnership between the two nations. He pointed out the crucial role of pension investment firms in bolstering economic connections and highlighted the increasing number of Indian students studying in the United States, stressing the value of educational exchanges. Pardo also shared his perspective on the H-1B visa programme.
Excerpts from his interview.
Q: Can we start with some breaking news you would like to share with us?
A: Certainly. We are excited to announce ‘Building Financial Futures’ campaign, which is set to kick off with a roadshow from September 9 to 11. This initiative is designed to attract US pension fund managers and investment firms to increase their investments in India. Our primary focus will be on sectors such as renewable energy and infrastructure, which are critical for sustainable growth.
Q: How does this initiative fit into the broader strategy of US-India economic relations?
A: The campaign is part of a broader strategy to strengthen economic partnerships between our two countries. It aligns with the ‘China Plus One’ policy. India is emerging as a significant alternative due to its expanding role in global logistics and supply chains. This initiative is a testament to our commitment to support India’s development, particularly in sectors like renewable energy.
Q: How significant you find Indian diaspora’s role in the US’s growth? A: The Indian diaspora has been playing a big role in the progress of the US. There's this group called Indiaspora. And they recently released a report of how much the Indian diaspora contributes to the American economy. They're paying around 5% of taxes that are paid to the US government. Q: You just talked so highly about Indian diaspora. What’s your take on H-1B visa cap?
A: Well that the cap is controlled always by Congress. They set the cap. India takes still 65% of the H-1Bs worldwide. But that cap is also worldwide. It's not India-specific.
Q: Moving on to educational exchanges, there’s been a significant increase in the number of Indian students studying in the US. Could you provide more details on this trend?
A: Absolutely. The number of Indian students in the US has surged to 268,000, up from just 99,000 in 2012. This dramatic increase highlights the deepening educational ties between our countries. Last year, our consulate in Mumbai led globally in issuing student visas, which underscores the growing demand for US higher education among Indian students.
Q: Are there any initiatives to encourage more American students to study in India?
A: Yes, there are several initiatives underway. While the number of American students in India is relatively low, we are working to increase these numbers. The Critical Language Programme, funded by the US Department of State, supports American students studying languages like Hindi, Tamil other regional languages in India. Additionally, the US-India Education Working Group is fostering more university partnerships and study abroad programmes, including dual degrees and twinning arrangements.
Q: Could you highlight any specific collaborations between US and Madhya Pradesh institutions?
A: Certainly. In Madhya Pradesh, we’re seeing increased educational and research collaborations. For instance, we have a joint weather station initiative with Bronx Community College in New York, which includes a station in Bhopal. This project exemplifies productive partnerships between our students and institutions. Additionally, the newly-launched US-India Women’s Economic Alliance is supporting women entrepreneurs and artisans in regions like Madhya Pradesh, contributing to regional economic development.
Q: Lastly, what are the next steps for ‘Building Financial Futures’ campaign and other upcoming initiatives?
A: The campaign will begin with the roadshow from September 9 to 11, where US representatives will meet with Indian government officials in Delhi, Bengaluru and Mumbai. Beyond that, we will continue to work on enhancing economic ties and investment opportunities between our two countries. We are also committed to further strengthening educational exchanges and collaborative projects, as these are key to our deepening partnership.
