Group items tagged

PRESIDENT DONALD TRUMP and Prime Minister Narendra Modi set a target to double bilateral trade to $500 billion by 2030 during their recent White House meeting. Modi was the fourth world leader to visit Trump after his second term began on Jan. 20. The countries agreed to cooperate on defense, trade, investment, energy security, technology, multilateral ties and people-to-people exchange, according to a U.S.-India joint statement. The Indian delegation to the U.S. included External Affairs Minister S. Jaishankar, National Security Advisor Ajit Doval, and Ambassador to the U.S. Vinay Mohan Kwatra. Trump, a critic of India's high tariffs, and Modi agreed Thursday to pursue a "framework" for greater cooperation.

THE U.S. SMALL Business Administration recently signed a memorandum of understanding with India's Ministry of Micro, Small, and Medium Enterprises to boost the two countries' MSME participation in the global marketplace. The five-year agreement is the SBA's first collaboration with India and focuses on investment, commercialization, supply chains and future trade opportunities. AAHOA praised the agreement, highlighting the importance of U.S.-India collaboration in supporting small businesses, including hotels. The MOU was signed by SBA Administrator Isabel Casillas Guzman and India's Ministry for MSMEs in New Delhi on Aug. 13. "The United States-India partnership is grounded in shared values of democracy, freedom, and opportunity, and through our new MOU with the Indian Ministry of MSMEs, the SBA is delivering on President Biden and Prime Minister Modi's outlined commitment to expanding our collaboration on empowering more small businesses and innovative startups in the global marketplace," said Guzman. "From advancing technology to supporting inclusive growth for women and other underserved entrepreneurs, we look forward to working alongside our counterparts to ensure entrepreneurial ecosystems are at the center of both countries' efforts to strengthen investment, commercialization, supply chains, and trade in industries of the future."