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India-US Fund Launch At APEC Signals Global Recognition, President Biden Acknowledges India’s Growing Role

India and the US have launched a new fund today which is also recognized by President Biden and other leaders...

Edited By : Rivanshi Rakhrai | Updated: Nov 17, 2023 12:35 IST
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India-US Fund Launch

Union Minister of Commerce and Industry Piyush Goyal shared insights from the Asia-Pacific Economic Cooperation (APEC) leaders’ summit, highlighting a warm interaction with President Joe Biden. “Biden was very warm and I suspect that’s because of his admiration and friendship with Prime Minister Narendra Modi, he was enquiring about the PM and was conveying his warm wishes to him. Throughout conversation both at the welcome reception yesterday and their APEC leaders’ summit, I could sense that he was very very conscious of the growing importance of India”, Union Minister Piyush Goyal told ANI.

“When it comes to any international efforts to address the challenges of the climate change, he has also today acknowledged that those countries which have contributed the least to damaging the environment are today vulnerable. The collective effort of the entire world and all world nations is the need of the hour. India and the US have launched a new fund today which is also recognized by President Biden and other leaders” the Union Minister added.

The Union Minister who was at the Indo-Pacific Economic Framework for Prosperity (IPEF) with US President Joe Biden said he was pleased with the outcome of the meetings.
“Extremely pleased to join @POTUS & other leaders of the Indo-Pacific Economic Framework for Prosperity (IPEF) for the IPEF Leaders meeting & to collectively announce that IPEF Leaders’ Vision has found a concrete shape with Agreements on Pillars II, III & IV. I am confident that the launch of several IPEF initiatives, such as the Critical Minerals dialogue, Investment Accelerator, Catalytic Fund, Investor Forum, IPEF Networks, and so on, will usher in sustainable growth & development, progress and prosperity for the people of IPEF countries. India is ready to collaborate for collective positive action” the Minister said in a post on X.

Union Minister Goyal was also delighted about the meeting at the APEC welcome reception in San Francisco, stated that Biden acknowledged the vulnerability of nations that contributed the least to environmental damage. He stressed the need for collective efforts to address climate change challenges globally. A significant development emerged as India and the US jointly launched a new fund, recognized and appreciated by President Biden and other leaders. The fund aims to strengthen collaborative efforts between the two nations, reflecting a shared commitment to addressing environmental concerns and fostering sustainable development.

Earlier speaking at the Informal Dialogue of Leaders’ of Asia-Pacific Economic Cooperation (APEC) on Sustainability, Climate, and Just Energy Transitions, the Minister highlighted India’s environmental stewardship under the visionary leadership of PM Narendra Modi. The Minister urged collective effort through sharing best practices, investment in research & development and financial & technological support for developing countries. The Indo-US partnership, as showcased at APEC, signals the recognition of India as a key player in international initiatives. The discussions at the summit underscored the growing importance of India, fostering optimism for collaborative efforts in addressing global challenges.

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Source ANI

First published on: Nov 17, 2023 12:35 PM IST

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