India-US Partnership: A Multiplicative Force

US envoy Eric Garcetti has proclaimed that the India-US relationship has never been better, terming it as 'multiplicative'. The announcement came at the SelectUSA Investment Summit, marked by JSW Steel's $140 million investment in Texas. The strengthening ties follow key visits by leaders from both nations.

US envoy to India, Eric Garcetti, declared that the India-US relationship is at its peak, describing it as not merely additive but 'multiplicative'. This assertion was made on the margins of the SelectUSA Investment Summit, a forum designed to encourage foreign investment in the US, which witnessed the largest delegation from India.

Garcetti emphasized, “This (India-US relationship) is a relationship that isn't just additive. It's not just the US plus India. It's multiplicative. It's the United States times India.” The remark underscores the deepening ties between the two strategic partners.

The event also highlighted a significant financial commitment from India’s JSW Steel, which unveiled plans to invest $140 million in Baytown, Texas. Garcetti noted that this investment would create over 800 American jobs and spotlighted the broader trend of increased mutual investment between the two nations.

Highlighting the successful integration of Indian immigrants in the US, Garcetti pointed out, “We've never had a closer relationship with India. Americans of Indian descent now constitute about 1.5% of our population and contribute six per cent of the taxes in America. It is the most successful immigrant community in America.”

The involvement of Indian businesses in the US is growing, with JSW Steel investing heavily, reflecting in the transformation of dormant steel mills and investments in sustainable energy solutions. These moves symbolize reciprocal development and economic integration.

Dispelling the historical one-sided investment flow, Garcetti articulated, “While the story used to be about American companies investing in India, now there's a two-way street...a bridge in the Indo-Pacific region facilitating investments from India into the US.”

These developments align with the upswing in US-India relations following key diplomatic exchanges, including Prime Minister Narendra Modi's state visit to Washington and President Joe Biden's participation in the G20 summit in India.

The commitment is evident as US National Security Advisor Jake Sullivan's recent visit to India aimed at reinforcing the Comprehensive Global Strategic Partnership between the two nations.