Washington | Prime Minister Narendra Modi's state visit to the US later this month at the invitation of President Joe Biden is a powerful signal that the future of the two countries is together, US India Business Council (USIBC) President Atul Keshap has said.

“This is only the third state visit for the Biden administration. India is now one of our closest friends. The fact that the prime minister and the president have agreed to this, their coming together is a powerful signal from the top of each government that our future is together,” Keshap told PTI in an interview.

Responding to a question on expectations from the visit, Keshap said he is hoping that it will send a powerful signal to the business communities of both countries that they are the preferred partners for each other and that there can be investment and trade in both directions with approval of the two governments.

“I have articulated repeatedly that we must be impatient in attaining our USD 500 billion goal for annual trade between the US and India. We're only at USD 190 billion. I'd like to see some energy deals between the US and India. I'd like to see deals on things like semiconductors and chips where we deleverage the risk in the supply chain,” Keshap said.

“For the US and India to be strong, to have strong deterrents, we need our companies, our private sectors working together. So IndUSX on June 20 at the US Chamber is our contribution to doing that," he added.

Modi will be on a state visit to the US from June 21-24.