USISPF holds 7th Annual Leadership Summit attended by high profile guests

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The US-India Strategic Partnership Forum held its seventh Annual Leadership Summit at the Willard Intercontinental Hotel in Washington D.C. June 17, 2024, attended by among others, President Biden’s advisor Neera Tanden and several federal lawmakers.

During the event, USISPF presented its Global Leadership Award  to Henry Kravis, co-founder and co-executive chairman of KKR, for his significant contributions to India’s development. Under the leadership of Kravis, KKR has invested over $11 billion into India, and aided in the bolstering of the US-India relationship.

Kravis thanked USISPF and praised the advancements in the continuing partnership between US and India, reminiscing about his trips to India.

“I love India… I’ve been going to India since 1989. I have gone practically every year until COVID hit. India is a really interesting country… To me, it is like an onion. The more you peel it, the more you learn… It is a fascinating country.” Kravis described Prime Minister Narendra Modi as “a doer” and recalled an incident during his meeting with Modi in 2014, to demonstrate how hands-on the Prime Minister was. He said he told Modi, “I don’t think that your country will ever grow to its potential unless you have a broad and deep capital market, because you have a bank market right now… [and] you don’t have a Bankruptcy law.”

Kravis recalled that Modi promptly summoned an accompanying official from the Finance department, confirming that Kravis was right – India did not have a Bankruptcy law. Modi requested Kravis draft a proposal for him to act upon. Kravis delivered the proposal to Modi, and within about two and a half months the Bankruptcy law was passed in India’s Lower House, followed by its passage in the Upper House.

President & CEO of USISPF, Mukesh Aghi, congratulated Kravis, and drew attention to the  recent election in India where 642 million people voted to elect a new government. He also highlighted that President Biden referred to the US-India relationship as the “most consequential of the 21^st century.”

“We have roughly 5.1 million Indian Americans and around 1.2 million on H1B visa in the United States. And we see the population contributing substantially to the economy to the innovation and technology itself. So, this is about celebration of the Indian Americans…,” Aghi said.

The meeting was attended by members of USISPF, lawmakers, White House officials, Indian Embassy officials, and members of think tanks and non-profit organizations.

United States Senator from Montana, Steve Daines referred to US and India as “good guys” and said it’s important for the United States to work with India and bring the “Quad relationship closer” and push away BRICS. He further added, “United States should be the very best of friends” with India. He noted that his 85-year-old father was saved by an Indian doctor, and that he is not just supportive of Indian doctors emigrating here, but also deeply grateful for their incredible expertise and compassion.

Daines said it is essential to share the true story of India’s progress, as common perceptions often don’t match the reality, and there was a need to highlight the revolutionary innovation that India is experiencing.

Senator from Alaska, Dan Sullivan recalled that he had invited former Indian Ambassador Navtej Sarna to Alaska and hosted a reception for him there in 2017. During the reception he was asked for his vision for the two nations, and Sullivan said he responded, “The vision is the world’s biggest democracy and the world’s oldest democracy have to do much more strategically together. That’s the vision.” He emphasized that the vibrant Indian American community is crucial to strengthening the strategic relationship between the countries.

President Joe Biden’s Domestic Policy Advisor, Neera Tanden, echoed Sullivan’s sentiments.

“The diaspora has played a huge role in building this relationship. To where it is today,”

Tanden said, emphasizing that both countries share the values of entrepreneurship, education and opportunities, and innovation.

“I really think it is this convergence of values which have allowed so many Indians to want to come to the United States and to be the leaders of companies here. You have so many stories that people who have come to get an education here, stay and innovate and lead.”

India’s Deputy Chief of Mission Ambassador Sripriya Ranganathan said that the “relationship with the US will be a top priority” for India. This was evident when Prime Minister Narendra Modi and President Biden met on the sidelines of the G7 Summit in Italy, shortly after the new Indian government was formed. Additionally, Ranganathan underscored the significance of National Security Advisor Jake Sullivan’s current official visit to India to discuss important matters concerning both countries.

“Just a few decades ago, much of our time was spent in managing this relationship, managing in a good way as well as not so good way,” Ranganathan said. “Today, I will say that we have reached the stage of actively seeking each other out. When we are confronted with challenges…we try and see how we can use the power of US-India relationship to really tackle these challenges and find the best possible way forward,” she added.