7th June 2023, Mumbai: On Tuesday, the India-US Strategic Trade Dialogue (IUSSTD) had its inaugural meeting in Washington, D.C., marking an important turning point in the two countries’ bilateral ties. In line with the India-US initiative on Critical and Emerging Technologies (iCET), the conversation intended to advance key technological and commercial partnerships.
The Indian delegation took an active part in the discussion under the direction of foreign secretary Vinay Mohan Kwatra. Ambassador Victoria Nuland, Under Secretary of State for Political Affairs in the US Department of State, and Alan Estevez, Under Secretary for Industry and Security in the US Department of Commerce, jointly served as the leaders of the US delegation.
Kwatra and the Indian team were complimented by Luland for “a very productive first US-India Strategic Trade Dialogue,” and it was said that improved high-tech cooperation and more bilateral commerce will help both countries expand their economies and generate more employment.
IUSSTD’s talks during the meeting were primarily focused on methods that both governments may promote the development and exchange of vital technologies in industries including semiconductors, space, telecom, quantum, AI, military, and biotech, among others. In order to build robust and diverse supply chains for these key technologies, both parties participated in thorough assessments of the bilateral export control legislation.
Aware of the value of international cooperation, the participants looked at the ongoing collaboration in multilateral export control regimes and decided to share best practises. They also agreed to undertake seminars and other such events to raise knowledge of the export control regimes among academics, business leaders, and other stakeholders.
In the discussion, it was noted that it played a crucial part in promoting co-production, co-development, and strong industrial partnerships in key technologies. As a result, it was mutually decided that a regular monitoring committee would be established, tasked with tracking progress and strengthening collaboration in the two parties’ high-tech trade and technological collaborations.
In order to strengthen the overall global strategic relationship between India and the United States, the co-chairs of the IUSSTD reaffirmed their commitment to pursuing the discussion. The successful IUSSTD inaugural conference demonstrated the two countries’ shared resolve to capitalise on their advantages in important and developing technologies, further solidifying their relationship as vital international allies.