Apple, Google expanding phone production in India: US Treasury Secretary

Technology companies such as Apple and Google have expanded their phone production in India, United States Treasury Secretary Janet Yellen said on Saturday, and as the US looks to the future, it will look to deepen ties in the technology sector. looking forward to

United States Treasury Secretary Janet Yellen was speaking at a roundtable with US and Indian tech business leaders in Bengaluru on the sidelines of the first Finance Ministers and Central Bank Governors meeting under India’s G20 Presidency.

“I look forward to deepening ties in the technology sector. The United States is pursuing an approach called “friendshoring” to increase the resilience of our supply chains. We look forward to strengthening integration with many of our trusted trading partners, including India. doing so. We’re seeing progress, for example, technology companies like Apple And Google Yellen said, has expanded its phone production in India.

Janet said through the Partnership for Global Infrastructure and Investment (PGII), the US is investing in digital technologies that will foster inclusive and resilient growth in India.

Under the PGII, the US has announced investments in agri-technology to enable climate-smart agricultural production, and in digital payment systems for micro-entrepreneurs, Yellen said, adding that it would also support renewable energy, health and other infrastructure. Stands side by side with investment in the sectors. India.

Overall, the secretary said the US aims to raise $200 billion (about Rs 16,58,500 crore) for PGII by 2027 and the US looks forward to partnering with India to continue investing in the future.

Roundtable attended by top CEOs like Sandeep Patel IBMfrom Nandan Nilekani Infosysfrom nivruti rai intelRishad Premji from Wipro, Josh Folger from FoxconnVikram Rai from GE, Rekha Menon from Accenture, Alexander Slater from US India Business Council (USIBC) and Nivedita Mehra from US-India Strategic Partnership Forum (USISPF).

Yellen said that America is India’s largest trading partner.

“In 2021, our bilateral trade is set to exceed $150 billion (roughly Rs. 12,43,900 crores). Our people-to-people ties confirm the closeness of our ties. 2 million Indians are studying in the US and attending our schools and universities.” enriching.” “We depend on each other on a daily basis. Indians use WhatsApp to communicate and many American companies depend on Infosys to function,” he said.

Yellen’s last visit to India was in November for the US-India Economic and Financial Partnership.

Infosys non-executive chairman Nandan Nilekeni said that Infosys has a global workforce of 330,000.

Infosys has a strong base in the US.

A world-class training center in Indianapolis exclusively for Americans.

“We recruited 7,000 fresh graduates this year. We work with all US universities and educational institutions in the US with 1,200 teachers and we want to expand,” Nilekani said.

Nilekani said that Infosys India runs the tax system on the backend. “The entire Income Tax and Goods and Services Tax (GST) system is run by Infosys at the backend, which is completely digital and paperless,” he added.

He also said that America invented the Internet and the Global Positioning System (GPS). “We realized that if we enable public infrastructure largely through government and make it an open standard on an equal footing and innovators at the top, then like magic BaseUnique Identification Authority of India (UIDAI),” Nilekani said.

Sandeep Patel, Managing Director, IBM India/South Asia, said it was great to meet and discuss strengthening the India-US trusted technology partnership.

“Proactive policy measures on the critical and emerging technology will enhance friendship and benefit the economy and people of both countries,” he said.