New Delhi, Mar 6 (PTI) An industry-driven collaborative effort between the US and India aims to catalyse deeper connectivity, broader integration and better access, and inclusivity in innovation ecosystems in both the countries, according to an official statement issued on Wednesday.
US-India Business Council (USIBC), in partnership with the Confederation of Indian Industry (CII), hosted the second Track 1.5 round of the US-India Innovation Handshake on Wednesday.
It is an industry-driven collaborative effort between the US and India to promote innovation and foster development of critical and emerging technologies, the statement said.
“The handshake aims to catalyse deeper connectivity, broader integration, and better access and inclusivity in America’s and India’s innovation ecosystems, from academia and research institutions to government and industry cooperation,” it said.
Sanjiv, Joint Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Indian Ministry of Commerce and Industry, and Arun Venkataraman, Assistant Secretary of Commerce for Global Markets, US Department of Commerce, jointly led the event and represented both governments, the statement said.
“The Innovation Handshake is something totally new and different – it shows how the governments of the United States and India, working in partnership with USIBC, CII and the corporate sector, are adopting new approaches to build a stronger strategic and commercial relationship,” Alexander Slater, Managing Director, USIBC, was quoted as saying in the statement.
“Today’s discussions explored how to leverage commercial cooperation in cutting-edge sectors to address our most pressing collective challenges and promote a stronger and more inclusive bilateral innovation ecosystem. From the deployment of Artificial Intelligence to mitigate the impact of climate change to accelerating inclusive development and technological access, American and Indian companies and startups have created amazing ways to tackle these challenges.” The Innovation Handshake, a concept developed under the US-India Commercial Dialogue, was announced as a key component of the bilateral summit held between US President Joseph Biden and Prime Minister Narendra Modi during the prime minister’s historic State visit to Washington in June 2023, it said.
Taken in tandem with the Initiative on Critical and Emerging Technology (iCET) and the Defense Acceleration Ecosystem (INDUS X), the Innovation Handshake seeks to ensure both democracies can continue leading the way globally in vital technological areas, including artificial intelligence, clean energy, cybersecurity, defence supply chains, semiconductors, space and geospatial platforms, telecommunications, and beyond, the statement said. PTI KND KSS KSS
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