At the bilateral talks between the United States and India on the sidelines of the Quad meeting in Tokyo, US President Joe Biden on Tuesday said that he is committed to making the US-India partnership “among the closest we have on earth”. Prime Minister Narendra Modi on his part called it a “partnership of trust”, while both the leaders expressed confidence over the US Investment Incentive Agreement signed on Monday.
The US President said, “Mr Prime Minister, there is so much that our countries can and will do together. I’m committed to making the US-India partnership among the closest we have on earth.” “I’m pleased that we’ve reached an agreement for US Development Finance Corporation to continue the important work in India, supporting vaccine production, and clean energy initiatives. I’m glad we’re renewing the Indo-US Vaccine Action Program,” Biden was quoted as saying by ANI
Biden added that the two countries will continue to consult closely on how to mitigate the negative effects of the Russia-Ukraine war on the world order.
He added that “our people-to-people ties and strong economic cooperation make the India-US partnership unique”. The PM expressed confidence that the US Investment Incentive Agreement will lead to “concrete progress in investment between our two countries” while stating that at the moment, “our trade and investment relations are also steadily on the rise but they’re below our potential”.
President Biden and PM Modi Tuesday attended the Quad meeting along with Japan PM Fumio Kishida and Australian PM Anthony Albanese. On Monday, India and 12 countries led by the US launched the Indo-Pacific Economic Framework (IPEF) that aims to strengthen economic partnership among participating countries to enhance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness in the Indo-Pacific region.