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International News

Jul 29, 2018
12:32PM

Trump administration set to announce major Indo-Pacific economic, developmental initiatives

In US, the Trump administration is all set to roll out its major policy initiatives to address the massive infrastructural and energy needs of the Indo-Pacific region where India is seen as one of the anchor countries for greater connectivity and trade. 

President Donald Trump has lined up his top Cabinet members - Secretary of State Mike Pompeo, Commerce Secretary Wilbur Ross and Energy Secretary Rick Perry at US Chambers of Commerce which is hosting the first Indo-Pacific Business Forum meeting tomorrow.

The Forum will introduce the economic and commercial elements of the US' whole-of-government Indo-Pacific strategy and will include participation from senior administration officials, private sector and officials representing Indo-Pacific nations.

Asian economies are now projected to create 50 per cent of global GDP in coming decades. Nisha Desai Biswal, president of the US India Business Council said that in order to realise that potential, countries of the Indo-Pacific will need to attract nearly 26 trillion US Dollars in capital from the private sector and not the government to fund their energy and infrastructure needs. 

She said, American companies will be a critical player in both investing the capital and building the technology and infrastructure that the region requires.

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