US election 2020: India Inc hails Joe Biden's win, looks forward to enhanced Indo-US ties

India Inc on Sunday, November 8, welcomed Joe Biden's triumph in the 2020 US Presidential elections saying that it looks forward to enhanced ties between the two nations. The industry also stated that "a democratic process voted for a change" while hoping for stronger relations and cooperation between India and the US.

Extending his best wishes to President-elect Joe Biden and Vice-President-elect Kamala Harris, Confederation of Indian Industry (CII) Director General Chandrajit Banerjee said, "CII looks forward to once again collaborating with President Biden and his incoming Administration. Prior to the economic disruption caused by COVID-19, bilateral trade in goods and services in 2019 reached a peak of nearly $150 billion and CII hopes this will continue to rise in the years to come."

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"We can aim higher at our shared goal of $500 billion through a new era of revitalised economic cooperation, which would be comprehensive, complementary and collaborative," he noted.

Specifying the sectors where India and the US can further enhance their cooperation, Banerjee emphasised on "energy and the green economy, defence and manufacturing, as well as pharmaceuticals and healthcare."

The US-India Business Council (USIBC) termed Biden's election as "truly a barrier breaking moment, and one that celebrates the diversity of America and the important contributions of immigrants who have made America their home".

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Highlighting that President-elect Biden brings decades of experience advancing US-India ties and played a key role forging the US-India Strategic Partnership in the Obama Administration, the USIBC said, "under his leadership, we expect to see a continued bipartisan focus on India and a broad-based approach to India and the Indo-Pacific that touches strategic, security, and economic issues, alongside climate, health, education, science, and technology".

The council said it looks forward to working with the Biden-Harris Administration to help the US-India economic partnership achieve its full potential and bring opportunity to the citizens of both countries.

Hailing Biden and Harris as the new leaders of America, Chairman, and MD of JSW Group Sajjan Jindal said in a tweet, "A democratic process voted for a change in a very defining year globally! Congratulations to the American community that ensured that the democratic process was not compromised in a tough external environment."

Similarly, congratulating Biden and Harris on their victory, JSPL Chairman Naveen Jindal in a tweet hoped "to see enhanced ties and cooperation between India and the United States."

(With inputs from PTI.)

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