India – U.S. Commercial Dialogue

  • On “Enhancing Innovation Ecosystems through an Innovation Handshake”.
  • Under the framework of India – U.S. Commercial Dialogue.
  • Signed in San Francisco USA.
  • The event was co-hosted by the U.S.-India Business. Council (USIBC) and the Confederation of Indian Industry (CII).
  • And supported by National Association of Software and Service Companies (NASSCOM) and Start-up India.
  • CEOs from major ICT companies, executives from venture capital firms, and founders of start-ups in the critical and emerging technology space discussed U.S.-India technology collaboration.

Objective 

  • To connect the two sides’ dynamic start-up ecosystems.
  • Address specific regulatory hurdles to cooperation.
  • Share information and best practices for start-up fundraising.
  • Promote innovation and job growth, particularly in critical and emerging technologies (CET) identified under India – U.S. initiative for Critical and Emerging Technology (iCET).
  • Poised to positively impact economic activity, attract investment, and generate employment, especially in start-ups.
  • Would include a series of India- U.S. Innovation Handshake events, including hackathon and “Open Innovation” programs, information sharing and other activities.
  • Groundwork for two future Innovation Handshake events: An investment forum and a “hackathon” in Silicon Valley.

Commercial Dialogue (CD):

  • It is a cooperative undertaking at Ministerial level between India and the U.S.
  • To facilitate regular discussion to deepen ties between business communities, encompassing regular government-to-government meetings to be held in conjunction with private sector meetings.
  • To facilitate trade, and maximize investment opportunities across a broad range of economic sectors.

5th India-U.S. Commercial Dialogue

  • Held on 10th March 2023.
  • During the visit of U.S. Secretary of Commerce Gina Raimondo between 8-10 March.
  • The Commercial Dialogue was re-launched with a strategic focus on supply chain resiliency, climate and clean technology cooperation, advancing inclusive digital economy, and facilitating post-pandemic economic recovery, especially for SMEs and start-ups.
  • It included the launch of a new Working Group on Talent, Innovation and Inclusive Growth (TIIG).
  • This Working Group would support the efforts of startups working towards the goals of iCET.
Posted in Current Affairs.