India-US Partnership puts economic ties at the center affirms secretary of State Antony Blinken

US Secretary of State Antony Blinken said economic ties are at the core of India-US relations. He also said the two democracies help shape innovation and the norms that drive it. Blinken's comments came just ahead of Prime Minister Narendra Modi's scheduled state visit to the country.

The Prime Minister was invited to the White House by President Joe Biden and First Lady Jill Biden. The visit will begin with a state dinner on June 22.

Speaking at the US-India Business Council (USIBC) annual Ideas Summit, Blinken said, “At the heart of our strategic partnership are our economic ties. And under the leadership of President Biden and Prime Minister Modi — and private sector leaders like you — it's getting stronger every day." Talking about the trade ties between the two countries, Blinken said that the trade between the two countries will reach 191 billion USD in 2022. This made the US India's largest trading partner.

US companies have invested US$54 billion in India, while Indian companies have invested up to US$40 billion in the US. The main investments from India were in the IT sector and pharmaceuticals. This created nearly 4,25,000 jobs in the US.

Blinken also talked about the purchase of 200 Boeing aircraft by Air India, which would help create more than 1 million jobs in the country.Talking about Biden's USD 1.2 trillion infrastructure bill and Prime Minister Modi's 100 trillion rupees infrastructure plan, he said it made the countries attractive to investors.

“India has joined the three pillars of our new Indo-Pacific Economic Framework – committed to building more resilient supply chains, seizing clean energy opportunities and fighting corruption,” he said.

"We are promoting and expanding strategic technology partnerships between governments, businesses and academic institutions in the US and India because we believe that how technology is designed and used should be based on democratic values ​​and respect for human rights," he said.

The basis of this cooperation is the diversification and deepening of supply chains with trusted countries while reducing strategic dependencies, he said. According to Blinken, the trajectory of the India-US partnership is unmistakable and full of promise.