US Investing $3.8 Billion To Meet India’s Energy: Garcetti

MUMBAI (ANI) – US Ambassador Eric Garcetti announced that the United States International Development Finance Corporation is investing $3.8 billion to support India’s renewable energy and infrastructure goals.

During an event on ‘Indo-US Space Cooperation’ in Mumbai last night, Garcetti highlighted additional US support in sectors like agriculture, healthcare, and financial services. He also expressed excitement about the growth of the US-India Alliance for Women’s Economic Empowerment, which is expanding with new partners.

“I am delighted to share tonight that the United States-India Alliance for Women’s Economic Empowerment, a public-private partnership between our two great nations to advance women’s economic security in India, is growing with new partners,” he said.

Garcetti emphasized the broader scope of the $3.8 billion investment, stating that it not only targets renewable energy and infrastructure but also supports agricultural, healthcare, and financial services.

Furthermore, he noted that the two nations are progressing together in technology. “Technology will define our lives,” he remarked.

“Reaching our full economic potential means harnessing the very best in our own nations and connecting this alliance between the US and India to see what we can do for the world,” he added. Garcetti highlighted cooperation in critical minerals, semiconductors, defense, and space.

“As we celebrate tonight, the collaboration on jet engines, unmanned vehicles, and groundbreaking work on Earth will extend even further into space,” he emphasized.

This year, the US and India are fostering relationships among their companies, people, governments, universities, investors, and startups to spur innovation and ensure that space remains a peaceful place for progress.

Garcetti also stressed his desire to strengthen connections between cities like Los Angeles and Mumbai by initiating the first US-India cities exchange. This initiative aims to share best practices in urban planning, addressing issues such as air pollution, public transportation systems, climate change, and infrastructure.