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Bay Area benefits from unique relationship with India

The report indicated that in the seven months of 2022, FDI by Bay Area in India was on track to be the largest in recent history in terms of dollar amount and deals.

Consul General Dr T.V. Nagendra Prasad at the report launch event. Image - The Consulate General of India, San Francisco

Synergies between the Bay Area and India’s robust innovation ecosystem suggest a range of opportunities for collaboration, according to a report titled  “Seismic Shift – Economic Growth and Strategic Alignment Between the Bay Area and India“ by Bay Area Council. The report was prepared by the senior director of the Bay Area Council, Sean Randolph.

Indian Ambassador to the US, Taranjit Singh Sandhu launched the report virtually and addressed the gathering on the historic Klamath Ship where the Bay Area Council is housed, Indian Consulate in San Francisco said in a statement.

Earlier, in November 2009, the Bay Area Council Economic Institute produced its first report on India. Ten years later in June 2019, a second report was published on the Bay Area-Silicon Valley and India.

The report that covered thematic areas of defense, critical and emerging technologies (enabled by iCET), standards, state-level collaboration on climate and energy, cross-national support for startups, AI and digital development, skilled immigration, trade, and supply chain integration, anticipated more interaction between the Bay Area and India in the coming years, the statement added.  

The report covered the California-India economic relations with a focus on university programs, leading Bay Area Companies’ presence in India and Bay Area-India foreign direct investment. On trade relations between the US- India, the report underlined “Except for a pause in 2020 due to the pandemic, two-way U.S. goods trade with India has steadily grown since 2018, reaching US$133 billion in 2022.  U.S. exports to India have increased to US$47.3 billion.”

Consul General Dr T.V. Nagendra Prasad attended the launch event. In his address, he highlighted the significance of the report and appreciated the work of Randolph as well as the deep understanding and analysis made by the Bay Area Council.

The report launch was followed by a brief presentation by the author of the report and a panel discussion comprising of SVP and head of Global Technology Tech Mahindra, Harshul Asnani, strategic thought leader Mihir A. Parikh,  director, India ZEV Research Center, Nishit Desai, the University of California Davis, Aditya Ramji, president & CEO, Indian Council on Competitiveness, Amit Kapoor, founder and chairman, Chiratae Ventures, Sudhir Sethi and Dr Nandini Tandon.

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