US Ambassador to India Eric Garcetti has said that relations between India and the US are not just “fascinating” but also “qualitative”.
Garcetti also said that relations between the two countries have never been better. The Indian-American community is the most successful immigrant community in the US.
He made these remarks on Monday at an event organised on the sidelines of the SelectUSA Investment Summit, which has the largest delegation from India.
“This (India-US) is a relationship that is not just additive. It is not just a US-India relationship. It is qualitative. It is a US-India relationship,” Garcetti said on the sidelines of the summit. India has the largest delegation at the summit.
The SelectUSA Investment Summit is the highest-profile event in the U.S. that facilitates business investment by bringing together thousands of investors, companies, economic development organizations (EDOs) and industry experts to get deals done.
Garcetti was speaking at an event where India’s JSW Steel announced plans to invest US$140 million in Bayton, Texas.
“Americans are becoming more and more familiar with Indian brands and Indian companies… Together we are investing in third countries, infrastructure, energy, climate solutions, and powering tomorrow’s prosperity,” Garcetti said while announcing an investment from JW Steel in Texas.
He said, “We are very excited that JSW Steel is announcing an investment of US$140 million in Baytown, Texas, USA. JSW is one of the largest Indian investors in the US, having invested over US$2 billion in this country in Texas and Ohio. They have received tremendous returns on their investments.” This FDI will result in employment of over 800 US workers.
Garcetti also said that relations between India and America have never been so good.
He said, “We have never had such close ties with India. Indian-Americans now constitute about 1.5% of our population and pay six per cent of taxes in the US. It is the most successful immigrant community in America.”
“While the story used to be about American companies going to India to invest, which we still do… we’re increasingly seeing this two-way street, a bridge across the Indo-Pacific coming from India to the United States, looking at saving steel mills, closing mines, investing in electrolytes for future electric vehicles, services, health care,” Garcetti said.
Diane Farrell, Deputy Under Secretary for International Trade on behalf of the Department of Commerce, said India’s delegation is the largest at the SelectUSA Investment Summit.
Divyakumar Bhaira, board member, JSW Steel USA, said these investments will be put into manufacturing high-quality steel plates used for offshore wind, monopiles, transition pieces and towers.
“This will not only help realise the clean energy dream for generations to come in America, but will also boost the local economies of Texas,” he said. JSW USA is part of the $24 billion diversified JSW Group.
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