PM Modi to address USIBC summit; to talk on economic revival after COVID-19

As the Coronavirus pandemic took a toll on the economic condition, Prime Minister Narendra Modi will deliver the keynote address at the India Ideas Summit on Wednesday. The summit is being hosted by US-India Business Council. This year marks the 45th anniversary of the formation of the council.

USIBC President Nisha Biswal last week said that US-India economic partnership has been one that has been growing in importance for both countries, adding that India stands to benefit as the companies look to diversify their global supply chains.

“US-India economic partnership has been one that has been growing in importance for both countries. We have seen that the pandemic has created enormous disruption on global supply chains including in the pharmaceutical sector and the US-India partnership is one of the trusted partners,” said USIBC president.

US Secretary of State Mike Pompeo, External Affairs S Jaishankar, Finance Minister Nirmala Sitharaman, Commerce and Railways Minister Piyush Goyal, Deputy Secretary of US Department of Health and Human Services (HHS) Eric Hargan, Senator Mark Warner, Representative (California) Ami Bera, India Ambassador to the US Taranjit Sandhu, US ambassador to India Kenneth Juster and many more diplomats, as well as dignitaries, are likely to participate in the summit.

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Earlier this week, PM Modi reviewed the state of the economy that is coming out of the world's toughest coronavirus lockdown. As part of this exercise, sources said, he held a meeting with Finance Minister Nirmala Sitharaman and senior officials of the ministry on last Tuesday.

However, details of the meeting could not be ascertained. To deal with the coronavirus crisis, the government in May had announced one of the world's biggest stimulus packages worth Rs 20.97 lakh crore with a focus on the survival of the business and drawing a road map for the revival of the economy.

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(Image credits: PTI)

(with inputs from agencies)