06-07-2023 01:00 PM | Source: Accord Fintech
India, US launch strategic trade dialogue
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Ahead of the historic US visit of Prime Minister Narendra Modi, India and US have launched a strategic trade dialogue here during which officials reviewed the ongoing cooperation in multilateral export control regimes and agreed to share the best practices to further the bilateral ties. At the inaugural India-US Strategic Trade Dialogue (IUSSTD), the Indian delegation was led by Foreign Secretary Vinay Mohan Kwatra. The US delegation was co-led by Alan Estevez, Under Secretary for Industry.

The dialogue is a key mechanism to take forward the strategic technology and trade collaborations envisaged under the India-US initiative on Critical and Emerging Technologies (iCET). Prime Minister Modi will be visiting the US from June 21 to 24. It focused on ways in which both governments can facilitate the development and trade of technologies in critical domains such as semiconductors, space, telecom, quantum, AI, defence, bio-tech and others. 

They reviewed ongoing cooperation in multilateral export control regimes and agreed to share the best practices. Both sides agreed to enhance awareness among the industry, academia and other stakeholders about the export control regimes through workshops and other activities. They acknowledged that the dialogue would be instrumental to enabling co-production, co-development and enhanced industrial collaborations in critical technologies. They agreed to set up a regular monitoring group which will review progress in deepening cooperation in the bilateral high-tech trade and technology partnership. The co-chairs agreed to continue the dialogue with the objective of strengthening the India-US Comprehensive Global Strategic Partnership.