India and the US are cooperating across the board in practically every sector and opportunities between the two nations remain significant to take the relationship forward not just incrementally but exponentially, India’s Ambassador to the US Harsh V Shringla has said.
Shringla said the two nations have reached this stage in bilateral relations very fast.
“In the last decade or two, we have broken this mould, we have established a partnership that today is really a paradigm relationship between states,” Shringla told an audience of business executives and entrepreneurs at the Indian Consulate here Wednesday.
Shringla visited New York on his first official visit after taking up his new responsibilities as Indian Ambassador on January 9.
He had presented his credentials to US President Donald Trump on January 11. At the Consulate, Shringla addressed members of the Indian Professionals and Investors Network (iPIN).
“We are cooperating across the board in practically every sector. The best part of it is that we are forging ahead very very quickly and the opportunities remain significant to take this relationship forward not just incrementally but exponentially,” he said.
He underscored that there are opportunities and challenges on both, stressing “we have to understand this”.
Shringla noted that the India-US trade relationship is a two-way relationship and “it is not that investments are one way. they are two way,” stressing that trade between the two countries increased 18 per cent last year and Indian economic involvement in the US is quite significant.
He emphasised that in the India-US bilateral relationship, trade, investments and economic activity play a very important role “because this is the basis on which the entire relationship can rest, whether it is people-to-people contacts.”
He said that even the political front and area of defense cooperation “we have does to some extent both contribute to and depend on the trade between our countries”.
During his day-long visit to the city, Shringla interacted with several business leaders and members of prominent think tanks. He participated in a forum with business leaders including Mastercard CEO Ajay Banga, Chairman of Global Commercial & Investment Banking, Bank of America Merrill Lynch Purna Saggurti and Co-Chief Executive Officer of Warburg Pincus Charles Kaye among others.
In his interactions with the business community, he noted that new items including oil, gas and agricultural products have been added to the India-US trade basket.
The US India Strategic Partnership Forum also hosted a reception in his honor. Shringla also had discussions with President of Council on Foreign Relations Richard Haass and former American Ambassador in India Frank Wisner.