Asserting that India has been a reliable partner in the global supply chain, Ambassador Taranjit Singh Sandhu said the country has supplied COVID-19 related medicines and medical equipment to over 100 countries, including the US. Addressing the virtual India Ideas Summit organized by US India Business Council, India's Ambassador to the US on Wednesday said every crisis presents itself with a new opportunity.
The pandemic has made the world realize, the need for resilient and reliable partnerships, which can withstand shocks and uncertainties, Sandhu said. "India has been a reliable partner, in the global supply chain. When the need arose, we stepped up and supplied COVID related medicines, and medical equipment to over 100 countries, including the United States," he said.
Adressing the summit, immediately after Prime Minister Narendra Modi delivered his key note speech, Sandhu said there has been expanded collaboration, between India and the US in areas such as health, vaccine development, science and technology and innovation. "We are learning from each other''s best practices. I firmly believe, that technology will play in an important role, in the Covid and post-Covid world. Already, it is providing innovative solutions, to work, education, business, health-care and even diplomacy. The free and open exchange of ideas, and information, has been one of the biggest strengths, of our partnership," he said.
Noting that India has undertaken a series of structural reforms to attract investment, and improve, the ease of doing business in India, Sandhu said that recent investments announced by American companies, including Google, Facebook and others, reflect the confidence, of foreign investors in the economy.
Observing that today India is one of the fastest digitizing countries, he said the reforms and initiatives undertaken by the government have facilitated creation of infrastructure in the sector, which has led to improved digital connectivity, achieved near universal coverage of telecom services and made available adequate spectrum for a range of activities.
This is also an area where there has been long standing cooperation between India and the United States. The potential for deepening is immense and sky is the limit, Sandhu said. The need for faster internet, smart city plants, industrial automation, connected devices, etc. make it imperative for India to adopt 5G. Moving beyond connectivity services, 5G even provide solutions for consumers and industry, the ambassador said.
Sandhu said the global economy will see major restructuring of supply chains in the future. With the recent disruption and risks, security management of supply chains has become a priority, he said, adding that India has been a reliable partner to many countries, including the United States during the current pandemic.
"As global MNCs, including US companies look for relocating and diversifying their supply chains, we welcome them to invest in India," Sandhu said.