By Reena Bhardwaj
San Francisco [US], November 15 (ANI): On the sidelines of IPEF, Union Commerce and Industry Minister Piyush Goyal attended ministerial-level talks on ‘Clean Economy and Fair Economy‘ on Tuesday (local time). At the top of their meeting, the Indo-Pacific Economic Framework (IPEF) ministers posed for a family photograph.
Besides discussion on the two pillars, ministers from 14 countries signed an agreement on the resilient chain under the Indo-Pacific Economic Framework (IPEF) as they sought to forge an alliance to strengthen relations and reduce dependence on China in the post-Covid period. On Monday, other members (not including India) were unable to strike a substantial trade deal during ministerial talks, despite their common goal of promoting a rules-based commercial order in the region where China is growing in influence.
India has so far stayed away from the trade talks while keeping its options open for the future. A decision on the trade pillar, which is being closely watched in the US, will take some time as just around half of it has been negotiated. Minister Goyal also attended a raft of bilateral meetings including with Ambassador Katherine Tai, United States Trade Representative, on the sidelines of the Indo-Pacific Economic Framework (IPEF) in San Francisco. The two leaders held talks on the IPEF and trade pillars.
Goyal, who is on a four-day visit to the US, also took part in the Investors Round Table organised in collaboration with the US-India Strategic Partnership Forum and Indiaspora. The event was attended by venture capitalists and entrepreneurs from a wide spectrum of industries in the US, including energy, manufacturing, logistics, and technology, among others.
In an interactive session held in San Francisco as part of the first leg of the tour in the US, the Minister held wide-ranging discussions with the participants and highlighted the various steps taken by the government of India to improve the ease of doing business. “Highlighted how the country offers promising opportunities for investors, thanks to the unique combination of our demographic dividend, manufacturing capabilities & conducive business environment,” Goyal posted on X, asserting India as an attractive investment destination for the world.
During the US visit till November 16, the Commerce and Industry Minister will participate in the third in-person IPEF Ministerial meeting and the engagements of the Asia-Pacific Economic Cooperation (APEC). India has been invited to the 30th APEC Economic Leaders’ Meeting 2023 as a ‘Guest Economy’. Goyal arrived in San Francisco on November 13. Kicking off the official tour, the Commerce and Industry Minister visited the Tesla Factory Unit in Fremont and interacted with the senior executives of the Tesla group.
Just shortly after his arrival in the US, Goyal met with Singapore’s Minister for Trade and Industry, Gan Kim Yong. The two leaders discussed ways to accelerate cooperation across sectors to further deepen the economic partnership between India and Singapore. Taking to X, Goyal stated, “Met H.E. Gan Kim Yong, Minister of Trade & Industry, Singapore, and discussed ways to accelerate cooperation across sectors to further deepen our economic partnership.”
One of the key focus of the visit will be the joint event, co-chaired with US Commerce Secretary Gina Raimondo, on the “India-USA Innovation Handshake Initiative”, with the aim to lift up and connect the two sides’ dynamic startup ecosystems, address specific regulatory hurdles to cooperation, and promote further innovation and job growth, particularly in emerging technologies.”
Piyush Goyal is expected to interact with globally renowned technology, entrepreneurship, and academic communities in the Bay Area, particularly in Silicon Valley, to undertake focused discussions with American companies looking to invest or expand in India across sectors – Electronics (including semiconductors), Technology, FinTech etc. (ANI)
Elon Musk extends apology to Piyush Goyal for being unable to meet him at Tesla factory
California [US], November 15 (ANI): Tesla CEO Elon Musk conveyed his “apologies” to Union Minister of Commerce and Industry, Piyush Goyal, after the two missed an opportunity to meet during the latter’s visit to the Tesla factory in Fremont, California. Minister Goyal shared his excitement about touring Tesla’s cutting-edge manufacturing facility on Monday (local time), highlighting the significant presence of Indian professionals in key roles and the growing importance of Indian auto component suppliers in Tesla’s supply chain. Despite the positive engagement, Goyal expressed regret at missing Musk’s “magnetic presence” during the visit, wishing him a “speedy recovery”.
Responding to Goyal’s post, Musk expressed his gratitude, saying, “It was an honor to have you visit Tesla! My apologies for not being able to travel to California today, but I look forward to meeting at a future date.” Following his visit to Tesla’s manufacturing facility in California’s Fremont, Goyal said that the US electric car maker is on its way to double its component imports from India.
Goyal stressed that he is proud to see the growing importance of auto component suppliers from India in the Tesla EV supply chain.
He said that he is “delighted” to see Indian engineers and finance professionals working in senior positions and contributing to Tesla’s journey to transform mobility. Taking to X, Goyal said, “Visited @Tesla ‘s state of the art manufacturing facility at Fremont, California. Extremely delighted to see talented Indian engineers & finance professionals working at Senior positions and contributing to Tesla’s remarkable journey to transform mobility. Also proud to see the growing importance of Auto component suppliers from India in the Tesla EV supply chain. It is on its way to double its components imports from India. Missed Mr @ElonMusk’s magnetic presence and I wish him a speedy recovery.”
Goyal, who is on a visit to the United States from November 13 to 16, arrived in San Francisco Monday morning (local time) and will participate in the third in-person Indo-Pacific Economic Framework (IPEF) Ministerial meeting from November 13-14, 2023. During his visit, he will also attend the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco.
Musk said in June this year that he is planning to visit India next year, adding that he is confident that the electric carmaker will be in India and will do so “as soon as humanly possible.” He said, “I am planning to visit India next year. I am confident that Tesla will be in India and we will do so as soon as humanly possible,” adding, “I would like to thank PM Modi for his support and hopefully, we will be able to announce something in the future.”
Calling himself a fan of PM Modi, Musk also noted that the prime minister visited a Tesla factory in California many years ago. The Prime Minister had previously met with Musk in 2015 during a visit to the Tesla Motors factory in Freemont, California. “….he really cares about India. He is pushing us to make significant investments in India which is something we intend to do,” Musk said about his meeting with PM Modi.
The Tesla CEO said that he had an “excellent conversation” with PM Modi and that quite likely there will be a significant investment in India. His comments to reporters were made outside the Lotte New York Palace, following a meeting with Prime Minister Narendra Modi, who was on a historic four-day State visit to the US in June this year.
Meanwhile, PM Modi tweeted after his meeting with Musk, “Great meeting you today @elonmusk! We had multifaceted conversations on issues ranging from energy to spirituality.” Musk said that PM Modi has invited him to India and that he is planning to come to India next year. (ANI)
