Building an enduring partnership
As the US-India business partnership enters into a new phase, it has the potential to set a precedent in the global economic order. It stands to show how a relationship that is based on technology, innovation and entrepreneurship can set the foundation for an enduring partnership that withstands other geopolitical issues. Economies built on free trade and innovation are not only more sustainable but also better prepared to meet the aspirations and improve quality of life of their people. Aerospace is an apt example of a sector that gains tremendously from increased trade, has a high degree of innovation and can play a significant role in improving quality of life. India is modernising its defence fleet at a very aggressive pace and is looking to develop its technology and manufacturing capability in the sector. US companies on the other hand continue to drive global expansion and seek growth in new markets. For India, this means creating jobs for its people while for the US it helps in sustaining jobs. Hence there is a lot of convergence in the interests of the two countries when one looks at growth in aerospace sector.
The United States is one of India’s largest trading and investment partners. However, considering the potential of this relationship, it has only just scratched the surface.
The visit of President Obama to India during the Republic Day celebrations, on the invitation of Prime Minister Modi, is symbolic of the value that either country associates with this relationship. It needs to be welcomed by industry leaders from both nations and harnessed to help realise the full potential of this relationship for the benefit of the people of both countries.
—Nalin Jain, President & CEO, GE Aviation & Transportation, South Asia