Prime Minister Narendra Modi's recent visit to the United States, which came at a time when the world is facing crucial geopolitical, economic, technological and climate challenges, marked a new milestone in the relationship between the world's two largest democracies.
At a time of a rapid global shift towards a plurilateral approach, the visit sought to reinforce the 'bold and daring' commitments made by Prime Minister Modi and US President Joe Biden to one of the world's most defining and consequential bilateral relationships to bring about, to put into practice. century.
A deep commitment
While the highlight of the visit was the sixth QUAD Leaders' Summit hosted by President Biden in his hometown of Wilmington, Delaware, bilateral ties received a major boost with major announcements in areas such as semiconductors, space, advanced telecommunications, artificial intelligence, quantum energy, biotechnology and clean energy. These groundbreaking initiatives demonstrate a deep commitment to achieving the ambitious goals of the U.S.-India Comprehensive Global and Strategic Partnership.
The QUAD, a strategic alliance of India, the United States, Australia and Japan with a commitment to maintaining a free and open Indo-Pacific, has emerged as a critical force in implementing tangible initiatives in the Pacific, Southeast Asia and the Indian Ocean Region. The summit strengthened cooperation across sectors, including maritime security, healthcare, cyber capabilities, climate security, semiconductor supply chains and disaster preparedness. The launch of the QUAD Investors Network, designed to accelerate investments in critical and emerging technologies, coupled with the inaugural meeting of the QUAD Trade and Industry Ministers in the coming months, underlines the critical role that companies will play within the Quad.
Join in
Most notable, however, is the establishment of the first India-US semiconductor manufacturing unit, which focuses on advanced sensing, communications and power electronics. Hailed as the first-ever national security semiconductor facility, it will produce chips for military applications, not only strengthening the supply chain ecosystem but also further strengthening the vital defense ties between India and the US.
The success and expansion of the US-India Industrial Cooperation Roadmap through India's planned procurement of 31 MQ-9B remote-controlled aircraft, enhancing intelligence, surveillance and reconnaissance capabilities, is another key achievement of Prime Minister Modi's visit. This, along with the establishment of a maintenance, repair and overhaul facility for C-130J Super Hercules aircraft, and initiatives such as the India-US Defense Acceleration Ecosystem (INDUS-X), underlines the deepening defense partnership between the two countries, essential to address current and future global security challenges.
Launched by the two countries in 2023, the Initiative on Critical and Emerging Technologies (iCET) serves as a crucial platform guiding responsible technology development globally and securing our countries' technology supply chains. The recent meeting expanded this strategic partnership through tangible actions such as the mobilization of millions of dollars in funds to support high-impact R&D partnerships between US and Indian universities and research institutions in semiconductors, next-generation communications systems, biotechnology, sustainability, connected vehicles and green technologies and intelligent transport systems and initiatives around advanced materials, quantum and artificial intelligence.
About clean energy
The recently unveiled US-India Roadmap to Build Safe and Secure Global Clean Energy Supply Chains, with a commitment to mobilize more than $1 billion in multilateral financing, represents another historic opportunity for both countries to lead the way in the transition to renewable energy, energy storage and zero energy. emissions vehicles, while collaborations under the Strategic Clean Energy Partnership to accelerate the development of supply chains for critical minerals reflect a joint effort to operationalize this energy partnership.
Industry in both countries has played a crucial role in making these initiatives operational. As Indian companies seek access to investments and technologies, US companies that already employ millions of Indians are eager to tap further into India's vast talent pool and the world's largest market. Prime Minister Modi highlighted the enormous potential of technology collaboration during his meeting with some of America's top CEOs. This mutual growth can revolutionize the global technology landscape while boosting shared prosperity between India and the US.
Finally, deepening relations with the United States could be central to Prime Minister Modi's vision to make India a developed country by 2047. A mutual understanding of India's importance in the world makes the US an important stakeholder and player in India's growth story. His latest visit not only strengthened the Quad but also highlighted the bond between the two nations even as it created new opportunities and mechanisms for cooperation among all stakeholders. As India's largest trading partner, the United States will play an important role in providing the capital, expertise and market access that India needs to climb the global economic ladder.
(Rahul Sharma is the Managing Director at USIBC, and Aditya Kiran Kaushik is the Senior Director, Digital Economy, Media & Entertainment at USIBC.)
Disclaimer: These are the personal opinions of the author
