NEW YORK, New York [June 20, 2023]—Guruprasad Sowle, the President of the Indus International Research Foundation (IIRF) U.S., met with Prime Minister Shri Narendra Modi in New York on June 20, 2023. The meeting involved discussions on international affairs, Indo-US collaboration, and trade and economy between the two nations.
Key topics of the discussion included exploring collaboration opportunities between small and medium-sized companies in India and the United States, particularly in the manufacturing sector. Guruprasad Sowle, President IIRF U.S. proposed the establishment of a dedicated corridor for collaboration in small and medium segments across all sectors and with a focus on aerospace and defense manufacturing. Additionally, he emphasized the potential for Indian small-to-medium businesses (SMB) to expand into the United States and leverage capital markets, suggesting an increase in trade delegations from the SMB sectors of both countries.
Citing how the COVID-19 pandemic exposed vulnerabilities in the global supply chain, they also discussed the need for enhanced trade, technology transfer, and joint development and manufacturing across key industry sectors that can foster resilient supply chains and drive economic growth for both nations.
“We are honored to meet with Prime Minister Modi and discuss the future of Indo-U.S. collaboration,” stated Guruprasad Sowle, President of IIRF U.S. “Through IIRF’s ecosystem of innovators, entrepreneurs, academicians, and policymakers, we aim to support international business expansion and foster strategic partnerships. Currently, we are assisting ventures from India’s aerospace and defense industries in their expansion into the U.S. market.” Sowle also highlights newer and emerging opportunities for synergies between both nations in states like Utah, apart from the lead destinations including California, Virginia, and Texas.
With the advancement in defense, aerospace, and technology sectors, India has emerged as a formidable global player. In a bid to stimulate technological innovation within the defense sector, 25 percent of India’s Defense Research and Development budget for 2022-23 has been earmarked for private industry and startups. This initiative has seen the birth of around 194 defense technology startups dedicated to crafting cutting-edge solutions to bolster India’s defense strategy. IIRF U.S. and India believe the two countries can benefit from each other’s investments in technology. Think tanks like IIRF create solutions that are advantageous to the two countries and the world.
About IIRF U.S. The Indus International Research Foundation (IIRF), an international think tank, operates as IIRF U.S., supporting the shared values and interests of the world’s oldest and largest democracies, India and the United States. IIRF U.S. provides independent and scholarly thought leadership on global trends and challenges through collaboration with cultural organizations, research entities, governments, and industry. By focusing on purposeful and conscious innovation, IIRF U.S. aims to address today’s most pressing issues and foster meaningful exchange of ideas.
The core team at IIRF US, comprised of Vice President Sridhar Krishnan, General Secretary Raghu Ganapathy, Mary Louise Luczkowski in charge of Public Relations, and Board Member Col Vijaykant Chenji, have been contributing immensely to this Foundation and believe IIRF US can make a significant difference to the bilateral synergy between India and the United States.
Resources: https://www.ibef.org/industry/defence-manufacturing
For media inquiries, please contact: Mary Louise Luczkowski
Title: IIRF U.S. Board of Directors
Phone number: +1 248-225-3026
Email address usaffairs@indusresearch.in
