India-US strategic trade dialogue to build on iCET initiative

Jun 07, 2023 10:00 AM IST

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).

Indian foreign secretary Vinay Mohan Kwatra (Centre) with US diplomats Victoria Nuland (Left) and Alan Estevez (Right).
Indian foreign secretary Vinay Mohan Kwatra (Centre) with US diplomats Victoria Nuland (Left) and Alan Estevez (Right).

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.

We're now on WhatsApp. Click to join.

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.

"Exciting news! Hindustan Times is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!
Get Latest India News along with Latest News and Top Headlines from India and around the world

    Author of Indian Mujahideen: The Enemy Within (2011, Hachette) and Himalayan Face-off: Chinese Assertion and Indian Riposte (2014, Hachette). Awarded K Subrahmanyam Prize for Strategic Studies in 2015 by Manohar Parrikar Institute for Defence Studies and Analyses (MP-IDSA) and the 2011 Ben Gurion Prize by Israel.

Story Saved
Live Score
Saved Articles
My Reads
My Offers
Sign out
New Delhi 0C
Thursday, September 28, 2023
Start 14 Days Free Trial Subscribe Now
Register Free and get Exciting Deals