India-USA relations

India-USA relations

News: Recently, India and the US have launched Joint Statement on their 5th Ministerial level Commercial Dialogue, discussing supply chain issues and agreeing on a semiconductor partnership initiative.

Key Highlights:
 Both discussed India-US strategic partnership, as well as economic and commercial engagement between the two countries, including through the Initiative on Critical and Emerging Technology (iCET) and the Indo-Pacific Economic Framework (IPEF).
 Both countries signed a Memorandum of Understanding (MoU) on semiconductor supply chain and innovation partnership to promote cooperation in the segment.
 Acknowledgement of small businesses and entrepreneurs and their contribution to growth of both economies. Mutual understanding on need to facilitate collaboration between the SMEs of the two countries. In this context, both sides announced the launch of a new Working Group on Talent, Innovation and Inclusive Growth under the Commercial Dialogue.
 Both countries also launched the Standards and Conformance Cooperation Program that will be carried out in partnership between US’s American National Standard Institute (ANSI) and India’s Bureau of Indian Standards (BIS) towards standards cooperation.
 The US will send a senior government official-led Clean Energy and Environmental Technology Business Development Mission to India in 2024 which will be an opportunity to further foster US-Indian business partnerships in grid modernization and smart grid solutions, renewable energy, energy storage, hydrogen, liquefied natural gas, and environmental technology solutions.
 Agreed to work together in the Global Biofuels Alliance and in the development and deployment of hydrogen technologies.
 The two sides made an announcement regarding US-India Energy Industry Network (EIN) as a broad platform for facilitating US industry involvement in the Clean EDGE Asia initiative, the US government’s signature initiative to grow sustainable and secure clean energy markets throughout the Indo-Pacific region.

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