US Invests $3.8 Billion in India’s Renewable Energy and Infrastructure, Says Ambassador Eric Garcetti

During an event on ‘Indo-US Space Co-operation’ held in Mumbai, US Ambassador Eric Garcetti announced a significant investment of $3.8 billion from the United States International Development Finance Corporation to support India’s renewable energy and infrastructure goals. Speaking at the event, Garcetti emphasized the broader spectrum of support, extending to areas such as agriculture, healthcare, and financial services.

Expressing enthusiasm about the expanding partnership between the two nations, Garcetti highlighted the growth of the United States-India Alliance for Women’s Economic Empowerment, a collaborative effort aimed at advancing women’s economic security in India. He noted that this initiative is attracting new partners, signaling a strengthened commitment to promoting gender equality and economic empowerment.

Garcetti further underscored the importance of technological collaboration between the US and India, emphasizing that technology will play a pivotal role in shaping both countries’ economic futures. He noted the significance of cooperation in critical sectors such as minerals, semiconductors, defense, and space exploration.

Touching upon the collaborative efforts in space exploration, Garcetti highlighted the partnership’s achievements and future endeavors. He mentioned the upcoming mission of Astronaut Sunita Williams, a United States Navy officer, who will pilot Boeing’s Starliner spacecraft on its maiden crewed test flight, underscoring the depth of cooperation between the two countries in space exploration.

In addition to space exploration, Garcetti expressed a desire to strengthen ties between cities like Los Angeles and Mumbai through initiatives such as the US-India cities exchange program. This initiative aims to facilitate the exchange of urban planning ideas to address common challenges such as air pollution, public transportation, climate change, and infrastructure development.

Furthermore, Garcetti stressed the importance of the Quad partnership, comprising India, the US, Australia, and Japan, in ensuring a free and open Indo-Pacific region. He also expressed optimism about the partnership’s potential for expansion and cooperation in various spheres to promote regional stability and economic growth.

In closing, Garcetti shared an inspirational anecdote about the transformative power of collaboration and imagination, urging stakeholders to envision a future of brighter possibilities through concerted efforts and partnerships.

The event highlighted the ongoing collaboration and shared goals between the US and India, reflecting a commitment to advancing mutual interests and fostering cooperation in various domains for the benefit of both nations and the broader region.

First published on: 24 May 2024, 14:31 IST