Ashville, Aug 31 (IANS) The United States is keen to expand investment engagement with India and help Indian companies navigate its national security review process, a senior Treasury official said, describing New Delhi as an important partner ahead of the G20 finance meetings in Asheville.
In an exclusive interview with IANS, Assistant Secretary for Treasury Chris Pilkerton said he welcomed discussions with Indian officials and businesses about potential investment opportunities in the United States.
“I welcome the opportunity to meet with Indian officials, Indian companies, and see if there's ways to work together through the CFIUS process,” Pilkerton said.
CFIUS, or the Committee on Foreign Investment in the United States, reviews certain foreign investments to determine their possible impact on US national security. Pilkerton said the committee examines investments individually and does not make decisions based solely on the country from which the capital originates.
“The Committee on Foreign Investment in the United States is agnostic as to where the actual capital is coming from,” he said. “We make an assessment on the national security level on a case by case basis.”
Pilkerton said nearly 90 per cent of the transactions reviewed by the committee are cleared. Some are approved after measures are introduced to address identified national security risks.
He said approved foreign investments could bring significant benefits to American communities through economic development, workforce expansion and opportunities for local vendors and entrepreneurs.
“Working with allies and partners and figuring out ways to really advance opportunities for investment, not just in innovative technologies, although we're seeing a lot of that, we wanna be able to work together and partner and definitely explain the process that we're going through,” he said.
Asked about India’s contribution to global growth, Pilkerton said the Trump administration wanted to work closely with allies and partners while remaining committed to its America First policy.
“And it's an America first administration and we're focused on America first, but as he has said, that doesn't necessarily mean America alone,” he said. “So we wanna be able to work with a number of different countries to advance our, our mutual initiatives.”
Pilkerton declined to identify specific economic deliverables that Washington expected from India at the Asheville meetings. He said economic growth remained an important objective and US officials looked forward to engaging with the Indian delegation.
“I can't speak specific to India, but I can say that economic growth is incredibly important across the board,” he said.
He also described India as “an important partner” and said the two countries had developed “a wonderful relationship”.
The Asheville discussions are expected to focus on global growth, trade imbalances, resilient supply chains and investment. Pilkerton said the meetings would give participating countries an opportunity to examine how they could work more closely together and ensure that trade partnerships remained effective and fair.
Technology and national security are also expected to feature in the discussions. Pilkerton said US authorities were examining developments in artificial intelligence, quantum technology, hypersonics, biotechnology and the space economy. Washington wants to promote secure cooperation with partners while guarding against the potential dual use of sensitive technologies.
India and the United States have also expanded their economic and strategic engagement in recent years, including cooperation in critical and emerging technologies. Bilateral discussions have increasingly focused on investment, secure supply chains and collaboration in high-technology sectors.
--IANS
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