Indian Economy News

On the first day of his visit to San Francisco, Mr. Piyush Goyal visited the Tesla facility in Fermont, participated in bilateral talks, and attended the Investors Round Table

On November 13, 2023, Mr. Piyush Goyal, the Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, landed in San Francisco, USA. The Minister of Commerce and Industry met with senior executives of the Tesla group at the Tesla Factory Unit in Fremont to begin the official tour.

The Minister held bilateral meetings with His Excellency Mr. Dukgeun Ahn, the Minister of Trade of the Republic of Korea, His Excellency Mr. Gan Kim Yong, the Minister of Trade and Industry of Singapore, and Her Excellency Ambassador Ms. Katherine Tai, the United States Trade Representative, later in the day.

The Minister discussed possible collaboration under the Indo-Pacific Economic Framework (IPEF), strategies for boosting bilateral trade and commerce ties, WTO-related concerns, and other topics of mutual interest during these ministerial discussions. The Minister proposed that the reviews of AITIGA and CEPA be completed more quickly during his conversations with his Singaporean and South Korean counterparts, respectively.   

Additionally, the Minister participated in the Investors Round Table, which was arranged in association with the Indiaspora and the US-India Strategic Partnership Forum (USISPF). Venture capitalists and entrepreneurs from a variety of US industries, such as those in the fields of energy, manufacturing, logistics, technology, and so on, attended the event. During an interactive session, the Minister engaged in extensive dialogue with the attendees and emphasised the various steps taken by the Indian government to enhance the ease of doing business in India.

The Asia-Pacific Economic Cooperation (APEC) meetings and the third in-person IPEF Ministerial meeting will be attended by the Minister of Commerce and Industry during the visit. He will also interact with eminent businesspersons, US officials, and industry leaders during the visit to fortify the partnership between the two countries and strengthen trade and economic ties.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.