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Sunday, April 21, 2024

Piyush Goyal’s Diplomatic Engagements at APEC Summit in San Francisco

In a significant diplomatic move, Union Minister of Commerce and Industry, Piyush Goyal, engaged with global leaders during the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco. Here are the key highlights of his visit:

Meeting with US President Joe Biden

Piyush Goyal had the honor of meeting US President Joe Biden at the APEC welcome reception. He shared his experience on Twitter, expressing gratitude for the opportunity.

APEC Summit and India’s Aspirations

Despite India not being a member of the APEC grouping, Goyal’s attendance signifies the country’s continued interest. India had applied for membership in 1991, with mixed reactions from members. While some support India’s inclusion, concerns have been raised about its economic reforms and perceived protectionist stance. Goyal’s presence reflects India’s ongoing efforts to engage with global economic forums.

Bilateral Meetings

Goyal also met US Secretary of Treasury, Janet Yellen, discussing matters of economic significance. Additionally, he held discussions with Peru’s Minister of Foreign Trade and Tourism, Juan Carlos Mathews, focusing on the progress of Free Trade Agreement (FTA) negotiations between India and Peru.

Technology Collaboration

A crucial aspect of Goyal’s visit was his meeting with Qualcomm Technology Licensing and Global Affairs President, Alex Rogers. They explored collaboration opportunities within India’s burgeoning semiconductor ecosystem and innovation landscape.

Engaging with Japanese Prime Minister

On the sidelines of the APEC Leaders’ Meeting, Goyal met Japanese Prime Minister Fumio Kishida, reinforcing India’s commitment to strengthening diplomatic ties with key partners in the Indo-Pacific region.

Participation in Global Forums

Goyal actively participated in the Partnership for Global Infrastructure Investment (PGII) and IPEF Investment Forum. He commended the initiatives led by US Commerce Secretary Gina Raimondo and Senior Advisor to the US President Amos Hochstein.

Optimism for India’s Economic Growth

Expressing optimism about India’s prospects, Goyal highlighted the nation’s attractiveness for global investment. He emphasized Prime Minister Narendra Modi’s efforts in enhancing the ease of doing business, ensuring transparency in the regulatory ecosystem, and fostering sustainable growth.

US-India Green Transition Fund

Goyal welcomed the announcement of the US-India Green Transition Fund by the US Development Finance Corporation (DFC) and National Investment and Infrastructure Fund (NIIF). He expressed confidence in the fund’s ability to contribute to India’s ambitious goals in renewable energy generation.

Piyush Goyal’s active participation in the APEC Summit and associated engagements underlines India’s commitment to global economic collaboration and its pursuit of strategic partnerships.

For more updates stay tuned to FELA News!

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