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Hindustan Times
23-05-2025
- Business
- Hindustan Times
India-US trade pact will be finalised soon: Jitin Prasada
A trade agreement between India and the United States will be finalised soon, Union minister of state for commerce and industry Jitin Prasada said on Friday in a reference to the ongoing discussion between the two nations on tariffs. Prasada was in the state capital to attend a conference on 'Rising UP, 8 years of successful governance' organised by the Indo -American Chamber of Commerce. Deputy chief minister Brajesh Pathak, who was also present along with minister of state (Independent charge) for horticulture, agricultural marketing Dinesh Singh, said improvement in law and order has brought about a significant change in the state. For his part, Prasada said Uttar Pradesh is now becoming an infrastructure hub and aims to be the number one state in the country. He stressed that it is everyone's responsibility to make Uttar Pradesh a developed state. He highlighted the state's significant progress in the last eight years, surpassing all benchmarks. He mentioned Operation Sindoor, emphasising that terrorist incidents affect the economy. Under the leadership of Prime Minister Narendra Modi, the dream of a self-reliant India is being realized despite various challenges, he said. He emphasised that India's 140 crore population is not just a number but a strength, enabling the country to face every situation with confidence. Prasada noted that several countries depend on India, and the country now negotiates on an equal footing with other nations. The government has made significant progress in infrastructure development, including roads, expressways, transportation, and law and order, the Union minister said The BrahMos missiles manufactured in Lucknow will enhance the military's strength, and a tiger reserve is being established in Pilibhit, the minister said. Deputy chief minister said Brajesh Pathak highlighted that the government has provided over eight lakh jobs to youth in the last eight years and that more than two crore youth are engaged in self-employment through the MSME sector. 'Uttar Pradesh has emerged as a leader in the MSME sector, with over 96 lakh MSME units. The state's exports have increased from ₹86,000 crore to over ₹2 lakh crore,' Pathak said. 'The One District, One Product (ODOP) initiative has given Uttar Pradesh global recognition of products like Pilibhit's bamboo flutes, Amroha's dholaks and Bhadohi's carpets,' the deputy CM said. Pathak added that eight years ago, Uttar Pradesh was facing significant challenges, including farmer suicides, insecurity for youth and women, and economic instability due to riots and anarchy. The state has 17 airports operating at full capacity, and the government is working on enhancing railway infrastructure. The number of MBBS seats has tripled, and the government has improved education and healthcare infrastructure, said Pathak. Minister of state (independent charge) for horticulture and agricultural marketing Dinesh Singh said food processing units will enhance the value of farmers' produce. The minister urged industrial units to collaborate with farmers by establishing food processing units, which can help in value addition and provide better prices to farmers for their produce. Mukesh Singh, chairman of the UP-State Coordination Committee and Executive Council member, IACC, was convenor of the seminar.. Principal secretary, department of animal husbandry, K Ravindra Naik; secretary, MSME Pranjal Yadav, former DGP OP Singh and former IAS Manoj Singh, among others, also addressed the gathering. Former DGP, poet, others honoured Lifetime achievement awards were given to former DGP OP Singh, lyricist and poet Manoj Muntashir, comedian Annu Awasthi, educationist Pyush Singh Chauhan, renowned artist Anil Rastogi, IAS K Ravindra Naik, former IAS Manoj Singh, Dr Mayank Somani, Dr Lokendra Gupta, Prof Shalini Singh and Dr Neelam Vinay.
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Business Standard
26-04-2025
- Business
- Business Standard
India, US in continuous dialogue on bilateral trade deal: MoS Jitin Prasada
India and the US have a continuous dialogue and communication on the bilateral trade deal and the first tranche is set to roll out by fall this year, Minister of State for the Ministry of Commerce & Industry and the Ministry of Electronics & Information Technology Jitin Prasada said. Prasada made these remarks while addressing members of the Indian-American community at an interactive session organised by the Consulate General of India in New York on Friday. India and the US share a great relationship, and there is continuous dialogue and communication between both countries. The last dialogue that Prime Minister (Narendra) Modi and President (Donald) Trump had, the formalities and modalities of the bilateral trade agreement have been worked out, and by September, this fall, you will see the first tranche of our programme and policies, Prasada said. At the beginning of the event, a moment of silence was observed to pay respects to the victims of the Pahalgam terror attack in which 26 civilians were killed and many more injured. Prasada commenced his address to the diaspora by expressing his condolences to the bereaved families and victims of the tragic and most dastardly act of terrorism in Kashmir. In his remarks at the event, attended by prominent members of the Indian-American community, senior banking, finance and corporate executives as well as students, Prasada urged the diaspora community to give suggestions about what issues should be taken up in the bilateral trade agreement so that those can be taken into account". "In the same vein, he said the community should also put in its suggestions to the US government, so that when both governments talk, your suggestions are prioritised. We are open to those ideas and suggestions. I can assure you that things are looking very positive. You will hear very positive outcomes, he said. He said that the engagement between the United States and India over the trade deal is happening at various levels, beginning right from the leadership of President Trump and Prime Minister Modi. Currently, the Additional Secretary of Commerce is in Washington and discussing the bilateral trade agreement and its modalities, he said. Deliberations between Indian and US officials on the proposed bilateral trade agreement began in Washington on Wednesday with an aim to iron out issues and give an impetus to the negotiations. India's chief negotiator, Additional Secretary in the Department of Commerce Rajesh Agrawal, is leading the team for the first in-person talks between the two countries. The US has stated that the pact with India will help open new markets for American goods and create new opportunities for workers, farmers and entrepreneurs in both countries. On April 15, Commerce Secretary Sunil Barthwal had stated that India will try to close the negotiations as quickly as possible with the US. In a joint statement issued after their bilateral meeting in Washington in February this year, President Trump and Prime Minister Modi had announced plans to negotiate the first tranche of a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA) by the fall of 2025. The leaders had committed to designating senior representatives to advance these negotiations and to ensure that the trade relationship fully reflects the aspirations of the COMPACT (Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology). India and the US have been engaged in negotiating the bilateral trade agreement since March. Both sides have targeted to conclude the first phase of the pact by the fall (September-October) of this year, with an aim to more than double the bilateral trade to $500 billion by 2030, from about $191 billion currently. Earlier this week, US Vice President JD Vance and Prime Minister Modi had welcomed significant progress in the negotiations for the US-India Bilateral Trade Agreement and formally announced the finalisation of the Terms of Reference for the negotiations, laying down a roadmap for further discussions about shared economic priorities. A statement from Vance's office had said that guided by their respective visions of Amrit Kaal for India' and Golden Age for America,' the trade agreement is expected to create new opportunities for growth for workers, farmers and entrepreneurs in both countries. Prasada further said that the Indian diaspora is the living bridge" between the United States and India, and you bring that energy and that connection which bonds two nations. Highlighting the great synergy between the two nations, he said America has the tech, India has the talent and that's where the winning formula lies. This continuous engagement between our two countries, you are the contributors who make that bond stronger. We want the best, and we want to collaborate with the world, and that's where America and India have great synergy, he said.
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Business Standard
25-04-2025
- Business
- Business Standard
India backs tech democracy, offers to share its DPI with the world
India said it is expanding its Digital Public Infrastructure ecosystem into areas such as agriculture and smart cities and stands ready to share successes with the international community, as UN leaders commended the country for its leadership in investing in this domain. Minister of State for the Ministry of Commerce & Industry and the Ministry of Electronics & Information Technology, Jitin Prasada, said that the Indian DPI success story is a showcase to the world. "DPI is all about empowering citizens, good governance, inclusive and sustainable growth at the societal level. The future will not be built by machines alone but by the choices we make about how technology serves humanity, Prasada said in his keynote address at the event organised by India's Permanent Mission to the UN at the world body's headquarters on Thursday. Prasada added that looking forward, India is expanding its DPI ecosystem into agriculture, logistics, smart cities and more. "The next wave will prioritise privacy and data protection, digital skilling and literacy, cross-border DPI partnerships, sustainability and resilience. Artificial Intelligence is going to be a force multiplier for DPI. India is deploying AI, keeping in mind our philosophy of serving the last person at the bottom of the pyramid," he said. Prasada said that India believes that technology must be democratised, made inclusive, affordable and advance human dignity. That is what India's digital public infrastructure represents, he said. President of the 79th session of the UN General Assembly, Philemon Yang, commended India on the success of its digital transformation and leadership in investing in digital public infrastructure. "I commend India on the success of its digital transformation and leadership in investing in digital public infrastructure. Indeed, digital public infrastructure holds the key to inclusion in the global digital society. And these technologies are evolving at breakneck speed, he said at the special event titled Empowering the Digital Citizen of the Future: Towards an Integrated Digital Public Infrastructure (DPI)'. Yang added that digital technologies are impacting every aspect of human life and are transforming economies, reducing costs, opening new doors to education and healthcare, and empowering citizens like never before. "In India, for example, it means 'anywhere access' to 'anytime vaccination' for any registered pregnant woman or child across the country, he said. Yang noted that he was privileged to see the U-WIN digital initiative himself earlier this year and voiced appreciation for what happens when digital public infrastructure and women and girls are at the heart of the digital revolution. These technologies hold vast potential to unleash progress across the Sustainable Development Goals, he said. India's Ministry of Health and Family Welfare launched the U-WIN (Universal Immunisation Win) that streamlines the entire process of vaccination services. Prasada added that the DPI scales, serves and saves. It is not infrastructure for a few, but it is an architecture for many. A global public good. The world is taking note, he said, adding that over 18 countries are exploring or adopting India's DPI - from Singapore integrating UPI to Sierra Leone piloting digital ID, and DPI elevated to a global agenda at the G20. He said India is pushing for greater representation of the global south in AI discourse. The digital citizen of the future must not be a consumer of technology, but a co-creator of equity... India stands ready to collaborate by sharing its DPIs, Prasada said, adding that India's DPI proves that development can be fast, fair and frictionless. When inclusion is coded into design, exclusion becomes obsolete. Let us work to build a world where digital dignity is a right, not a privilege. India's Permanent Representative to the UN, Ambassador P Harish, said that with the launch of Digital India in 2015 by Prime Minister Narendra Modi, India has implemented several unique digital transformational projects. He highlighted Aadhaar, Unified Payments Interface, Pradhan Mantri Jan Dhan Yojana as well as the Jan Dhan Yojana-Aadhaar-Mobile the so-called JAM Trinity initiative that linked 540 million Jan Dhan bank accounts, with Aadhaar cards, and mobile phone numbers to facilitate Direct Benefit Transfers (DBTs) of government subsidies to needy citizens, ushering in the world's largest financial inclusion programme and reducing leakages and corruption. Harish stressed that AI is redefining Indian agriculture by enhancing productivity, optimising resource use, and improving decision-making for 200 million farmers. Our digital citizens of the future deserve an integrated Digital Public Infrastructure aided by AI systems, so that no one is digitally left behind. Our duty is to work for that, and in such an endeavour, India is a friend and partner of choice for all, especially the Global South, he said. Under-Secretary-General and UN Secretary-General's Special Envoy for Digital and Emerging Technologies Amandeep Singh Gill said that India's experiment with DPIs is a model and also lauded examples from other regions like Brazil, Southeast Asia, and Africa. We now have enough evidence that DPIs work. They work at scale and they work in a deeply transformative manner, Gill said. Gill added that we are looking at how interoperability across DPIs can improve intra-regional, inter-regional trade and scale for digital entrepreneurs." There is great potential in these challenging times when global trade is under pressure to build resilience and intra-regional scale for entrepreneurs by linking together DPIs and by reimagining them, by building them in more of an interoperable way, Gill added. The event also featured a presentation by Founding CTO of Aadhaar and CEO of Khosla Labs Srikanth Nadhamuni on how India is leveraging artificial intelligence to enhance the impact of its DPI and highlighted that India's inclusive approach to AI and DPIbuilt as global digital public goods can serve as a transformative model for countries worldwide.
Business Journals
22-04-2025
- Business
- Business Journals
Chris Janson to lead $7B Halo Vista project near TSMC plant
A seasoned developer with over two decades of experience has stepped into a pivotal role overseeing one of Phoenix's most ambitious construction projects near the TSMC campus. Story Highlights Chris Janson appointed president of Mack Halo Vista LLC in Phoenix Halo Vista is expected to create 70,000 jobs The development includes The Forge and Sonoran Oasis Research Park. One of the biggest construction projects in Phoenix has a new leader, as Chris Janson takes over as president of Mack Halo Vista LLC, the developer behind the mega master-planned community surrounding Taiwan Semiconductor Manufacturing Company's plant in North Phoenix. Halo Vista is poised to become a city within a city and is being developed by Mack Real Estate Group and McCourt Partners. Encompassing over 2,300 acres, the $7 billion mixed-used, master-planned community will include residential, commercial and industrial developments, and is expected to create upward of 70,000 jobs. A senior development professional who has handled large master-planned projects throughout the state and elsewhere in the West for over two decades, Janson has led around $2 billion in land transactions and development in the West, according to an announcement. His first foray into master-planned development in the Valley began when he worked on the entitlement for Surprise's sprawling Prasada project. Janson will lead the day-to-day execution of Halo Vista, now in focus as TSMC continues building out its enormous, $165 billion chip manufacturing plant. This month TSMC announced it finished construction on its second chip factory ahead of schedule. expand Chris Janson, president of Mack Halo Vista LLC. Mack Real Estate Group Halo Vista in part helped sway TSMC to Phoenix. After the city lost out on getting TSMC to come build its project in 2016, it laid out plans in 2019 for a science and technology park to be built around a proposed semiconductor campus in Phoenix. That convinced TSMC, which announced an initial investment of $12 billion for one fabrication facility in Phoenix in 2020. Mack Real Estate paid $56M for Halo Vista land And last May, Mack Real Estate Group won a bid for the state land where Halo Vista is being developed, for $56.28 million. Two major districts in Halo Vista include The Forge, a 12 million-square-foot manufacturing hub, which will be set up for advanced manufacturing though could also see some data center and warehouse and distribution uses. The other district, the Sonoran Oasis Research and Technology Park, will include 3.5 million square feet of flexible technology and office space. 'Companies that are on either side of the front end ... or the back end of the supply chain around chip manufacturing, that's super important to what we're trying to do, and then building a community that can support that industry,' said Richard Mack, CEO of Mack Real Estate Group. As a Phoenix native, Janson is "ecstatic to jump at the opportunity to come on board and really lead the day-to-day operations of delivering a world class development,' he said. Janson spoke to the Business Journal about the state of the project and his role in its development. His comments have been edited for clarity and brevity. What has happened with the project since Phoenix City Council approved the development agreement for Halo Vista last December? Janson: Since December obviously there's been progress on our side, both with the city, with the state, with all of our service providers out there, APS, and so we're still actively advancing those entitlements. What are the different phases of this project expected to look like, and what phase is it in now? The phase that we're in is our conceptual master plan phase, so we're still really focused on the overall conceptual master plan. We have a portion of the property that we would call phase one, which is probably a little further down the line in terms of potential users and design. And next step for us, most likely this summer, will be getting into the heavier design of phase one, and ultimately the construction documents and approval and obviously true break ground. So I can't tell you that that's happening this summer, but we're definitely working hard to bring that first phase of the project to live.' How do you expect the project to progress in the next year or two? I think just in general, the project's gaining a bunch of momentum and drawing a lot of interest from users, suppliers, other companies. And so right now we're really doing our best to refine a plan that ultimately serves the level of interest that we're seeing. If we focus on getting the infrastructure started sometime this year, then going into next year, hopefully we'll have some of the vertical construction happening in phase one. That's really the primary focus for me and my team, is to get the infrastructure out there and in place to where we can get some of these vertical projects started in 2026. And then depending upon momentum and interest, we'll advance it as quickly as we can, frankly. Sign up here for the Phoenix Business Journal's free newsletters, and download our free app for breaking news alerts.
