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Industry collaborative effort between India and US has aimed to strengthen ties


IT Services

Industry collaborative effort between India and US has aimed to strengthen ties

US-India Business Council, in partnership with the Confederation of Indian Industry (CII), hosted the second Track 1.5 round

An official statement issued on Wednesday highlights an industry-driven collaborative effort between the United States and India, aimed at fostering deeper connectivity, broader integration, and improved access and inclusivity within innovation ecosystems in both nations. The second Track 1.5 round of the US-India Innovation Handshake was hosted by the US-India Business Council (USIBC) in partnership with the Confederation of Indian Industry (CII). This initiative seeks to promote innovation and facilitate the development of critical and emerging technologies through industry collaboration between the two countries.

The handshake initiative is designed to enhance connectivity and inclusivity across innovation ecosystems, spanning academia, research institutions, government entities, and industry partnerships in both the United States and India. Sanjiv, Joint Secretary at the Department for Promotion of Industry and Internal Trade (DPIIT) under the Indian Ministry of Commerce and Industry, along with Arun Venkataraman, Assistant Secretary of Commerce for Global Markets at the US Department of Commerce, jointly led the event on behalf of both governments. The Innovation Handshake, introduced as part of the US-India Commercial Dialogue, was announced during a bilateral summit between US President Joseph Biden and Prime Minister Narendra Modi in June 2023. Complemented by initiatives such as the Initiative on Critical and Emerging Technology (iCET) and the Defense Acceleration Ecosystem (INDUS X), it aims to ensure both nations remain global leaders in crucial technological domains, including artificial intelligence, clean energy, cybersecurity, defense supply chains, semiconductors, and telecommunications.


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