Congratulating Joe Biden on his election as the 46th President of the United States, the Confederation of Indian Industry (CII) has said the key sectors to watch for enhanced bilateral business cooperation were energy and green economy, apart from defence, manufacturing, pharmaceuticals and healthcare.

Chandrajit Banerjee, Director General of the largest industry chamber in India said this cooperation will be driven by the new age businesses and disruptive innovation and technologies from both the sides.

Prior to the economic disruption caused by COVID-19, bilateral trade in goods and services in 2019 reached a peak of nearly $150 billion and the chamber hopes this will continue to rise in the years to come.

"We can aim higher to our shared goal of $500 billion through a new era of revitalized economic cooperation, which would be comprehensive, complementary and collaborative.

Biden played a key role in some of the greatest developments to build the bilateral strategic partnership including championing the goal-setting for a $500 billion bilateral trade relationship, the landmark US-India Civil Nuclear Agreement, the designation of India as a US “Major Defense Partner,” and the ratification of the Paris Climate Agreement.