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"I have spoken of the 'Served from India' brand to stand side-by-side with 'Made in India' because I firmly believe that in the years to come India will become a knowledge hub of the world, a hub which will serve the future workers in ways
unimaginable today through a convergence of technologies", Nath said while addressing the 30th anniversary celebrations of the US-India Business Council in Washinton on Wednesday.
Claiming that the world has acknowledged the "arrival of India," he said, "We no longer discuss the future of India. We say, 'The future is India'."
"A decade and a half ago, the prospect of India becoming a major player in the global economy seemed a distant dream, only a theoretical possibility. During the last 14 years, there has been a sea change not only in the world's perception about India's future, but in our own perception about ourselves," the minister said.
He said Indo-US ties will take the shape of strategic partnership in the future, covering not just international peace and security, but encompassing close trade and economic relations.
"I am certain that the US and India will develop a common vision for the world," Nath said adding engagement should take the shape of "binary" partnership based on technology transfer and exchange, along with two-way investment.
Nath stressed the importance of building stronger physical and virtual networks through bilateral investments and technology cooperation.
"Today India actively seeks foreign direct investment from the US, but India is also eager to invest in the US. The two-way investment binds us but this network cannot be held together merely by the glue of greenbacks: It must be underscored by technology transfer and technology exchange," he said.
Predicting that bilateral trade will expand, Nath said, "In 2035, barriers will come down. As the world shrinks, there has to be alignment around fundamentals," Nath said.
"There will be a convergence of consumer needs in both societies. If we have to fulfil these needs jointly, we will have to develop some innovative and creative ideas for rapidly expanding our bilateral trading."
Referring to the 'shared values' between the two countries, the Commerce Minister said, "The world's strongest democracy and the world's largest democracy would have to enhance their engagement based on their shared values, respect for the individual, free speech and liberty."
The USIBC's Award for "The US Company Contributing Most to the Indo-US Commercial Relationship" went to General Electric while Amit Mitra received the Award for "Promoting an Enduring Indo-US Relationship".
Former Secretary of State Henry Kissinger was awarded 'International Statesman Contributing Most to the Indo-US Strategic Partnership'.
The highlight of the cultural reception was a recital by Sarod Maestro Ustad Amjad Ali Khan along with his sons, Amaan Ali Bangash and Ayaan Ali Bangash. The Ustad was also honoured on the occasion.