India-US Strategic Trade Dialogue to Build on ICET Initiative

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Biden and PM Modi announced in May last year the US-India iCET to elevate and expand the strategic technology partnership and defence industrial cooperation.

Biden and PM Modi announced in May last year the US-India iCET to elevate and expand the strategic technology partnership and defence industrial cooperation.

The first-ever meeting of the India-US Strategic Trade Dialogue (IUSSTD) took place on Tuesday in Washington D.C., marking a significant milestone in the bilateral relationship between the two nations. The dialogue aimed to propel strategic technology and trade collaborations envisioned under the India-US initiative on Critical and Emerging Technologies (iCET).

Led by foreign secretary Vinay Mohan Kwatra, the Indian delegation actively participated in the dialogue. The US delegation was co-led by 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.

Luland thanked Kwatra and the Indian delegation “for a very productive first US-India Strategic Trade Dialogue” and said the two sides will grow “our economies and create jobs through increased bilateral trade and better high-tech collaboration.”

During the meeting, IUSSTD centred its discussions on identifying ways in which both governments could facilitate the development and trade of critical technologies in domains such as semiconductors, space, telecom, quantum, AI, defence, and biotech, among others. Both sides engaged in comprehensive reviews of relevant bilateral export control regulations, with the primary objective of constructing resilient and diversified supply chains for these strategic technologies.

Recognizing the importance of global collaboration, the participants also examined ongoing cooperation in multilateral export control regimes and reached a consensus to exchange best practices. They further agreed to conduct workshops and similar activities to enhance awareness among industry professionals, academia, and other stakeholders about the export control regimes.

The dialogue acknowledged its pivotal role in fostering co-production, co-development, and robust industrial collaborations in critical technologies. In light of this, both sides mutually agreed to establish a regular monitoring group tasked with reviewing progress and deepening cooperation in bilateral high-tech trade and technology partnerships.

The co-chairs of the IUSSTD expressed their commitment to continuing the dialogue, with the ultimate aim of bolstering the comprehensive global strategic partnership between India and the United States. The productive inaugural meeting of the IUSSTD showcased the shared determination of both nations to harness their strengths in critical and emerging technologies, further cementing their bond as crucial global allies.

Source: Hindustan Times