A diversified economy, increasing foreign investments, trade, productivity gains and the growing consumption in the domestic market could be responsible for India’s growth. As an economy, India may be at a global vantage point. When we look at US-India investments, India has received around US$84bn in FY22 as FDI (foreign direct investment) across sectors. The US has been India’s second largest investor since FY21; India had received 811 industrial investment proposals to the tune of $43bn up to August 2022. In FY23, the US-India bilateral trade could reach $191bn; with this, the US may be India’s largest trade partner.
Other factors unfold, like the recent US-India agreement. The US. has proposed a stronger US-India collaboration through iCET 2023. iCET 2023, the United States-India initiative on Critical and Emerging Technologies (iCET), was officially launched in January 2023. iCET 2023 is also expected to deepen the partnership on developing a secured...