Ahead of Prime Minister Narendra Modi's historic visit to the United States, India and the US have initiated a strategic trade dialogue to bolster their trade cooperation. The dialogue, known as the India-US Strategic Trade Dialogue (IUSSTD), aims to promote collaboration in critical and emerging technologies. This serves as a significant step in the India-US initiative on Critical and Emerging Technologies (iCET).
Fostering Technology and Trade Collaborations
The inaugural meeting of the IUSSTD witnessed the participation of high-level officials from both countries. The Indian delegation, led by Foreign Secretary Vinay Mohan Kwatra, engaged in productive discussions with Alan Estevez, Under Secretary for Industry and Security in the US Department of Commerce, and Ambassador Victoria Nuland, Under Secretary of State for Political Affairs in the US Department of State.
Focus on Crucial Domains
The dialogue primarily concentrated on facilitating the development and trade of technologies in critical sectors. These domains include semiconductors, space, telecom, quantum computing, artificial intelligence, defense, and biotechnology, among others. Both sides recognize the importance of nurturing resilient supply chains for these strategic technologies and reviewed the relevant bilateral export control regulations.
Sharing Best Practices and Enhancing Collaboration
The Indian and US officials reviewed ongoing cooperation in multilateral export control regimes and agreed to exchange best practices. They emphasized the significance of raising awareness about export control regimes among various stakeholders, such as the industry and academia, through workshops and similar activities. The dialogue aims to pave the way for co-production, co-development, and increased industrial collaborations in critical technologies.
Establishing a Monitoring Group
To ensure progress and further deepen cooperation in high-tech trade and technology partnerships, the participants agreed to establish a regular monitoring group. This group will play a crucial role in reviewing advancements and promoting continuous dialogue between the two countries. The co-chairs expressed their commitment to strengthening the India-US Comprehensive Global Strategic Partnership through this platform.
Prime Minister Modi‘s forthcoming state visit to the United States, scheduled from June 21 to 24, underscores the significance of the India-US relationship. The India-US Strategic Trade Dialogue serves as a vital mechanism to foster closer ties, advance technological advancements, and facilitate trade cooperation between the two nations.