As India celebrated its 72nd birthday during last week’s Independence Day celebrations, Prime Minister Modi marked the occasion with a wide-ranging speech from the ramparts of the Red Fort addressing some of the challenges facing the nation and his determination to steer the ship of state. While much attention has focused on the decision to revoke Article 370, which granted special status to the state of Jammu and Kashmir, the speech also highlighted important economic and development priorities, including a plan to invest nearly $50 billion to bring piped water to households and much-needed stimulus in the form of $1.4 trillion in spending on roads, railways, and other infrastructure.

Amid a slowdown in consumer spending, Prime Minister Modi noted the need for India to grow exports in order to boost jobs and create the path to a $5 trillion economy by 2024. Another key announcement was the establishment of a Defense Chief of Staff position, akin to the U.S. Chairman of Joint Chiefs of Staff, designed to create a unified command structure in the Indian armed forces. While details on implementation for many of these announcements are not yet available, we are tracking government policy initiatives and will bring them to you as they are unveiled.

Trade and economic issues were also discussed in a 30-minute phone call between President Trump and Prime Minister Modi earlier this week, alongside a range of regional and bilateral issues. With the two leaders expected to meet on the margins of the G7 Summit in France this weekend, there is some potential for progress towards resolution of lingering trade issues, despite the fact that planned trade talks between Amb. Lighthizer and Minister Goyal have yet to take place. With another potential leader-level meeting in New York in September, we could be in for a period of more intense engagement between the two governments.

USIBC continues to be actively engaged on all of these developments. We are also busy preparing for the upcoming visit by PM Modi to the United States, which will include travel to Houston for the Howdy Modi Summit, followed by New York City for the U.N. General Assembly meetings. The Houston event is already sold out, with over 50,000 people expected to attend – making it the largest event ever held for an Indian Prime Minister in the United States. It’s also the one of the largest gatherings ever for a foreign leader, second only to Pope Francis’ visit in 2015.

August 8 – USIBC M&E Committee Call with Andrea DaSilva, U.S. Department of Commerce
Andrea DaSilva, Global M&E Team Leader at the U.S. Department of Commerce, Office of Digital Services Industries (Commerce/ODSI) leads a large team of M&E specialists throughout the U.S. that assist U.S. companies with exports of M&E and cultural products. ODSI supports a number of USG reports including the National Trade Estimate and Special 301. Participants shared key issues and areas where ODSI can engage with India. DaSilva also flagged several ODSI top M&E market reports which include India: Overview, India Section and Full Report.