India, US resolved pending trade issues: Modi

India and the US have decided to end the pending issues related to trade and make a fresh start, Prime Minister Narendra Modi said in a press statement at the joint press briefing with US President Joe Biden in Washington.

Highlighting the fact that America is India’s biggest trade partner, Modi said that the Initiative for Critical and Emerging Technologies (ICET) has emerged as an important framework for our technical cooperation. “By expanding our cooperation in areas such as artificial intelligence, semiconductors, space, quantum, and telecom, we are building a robust and futuristic partnership. The decision of American companies like Micron, Google and Applied Materials to invest in India is a symbol of this futuristic partnership.”

During this visit, Modi said that he had the opportunity to meet some of the other CEOs from the US. “I also sensed enthusiasm and a positive attitude towards India during my interaction with them. Both of us agree that it is very crucial for the governments, businesses and academic institutions to come together to make our strategic technology partnership meaningful. We have taken several important initiatives to implement the shared vision of India and America in Clean Energy Transition. This includes areas such as green hydrogen, wind energy, battery storage and carbon capture.”

The two countries have also decided that amidst global uncertainties, “as trusted partners,” they will create reliable, secure, and resilient global supply chains and value chains. “Leaving behind the old buyer-seller relationship, today we have moved towards transfer of technology, co-development, and co-production. The decision by General Electric to manufacture engines through technology transfer in India is a landmark agreement. This will also open up new employment opportunities in both the countries.”

This will also give a new shape to our defence cooperation in the times to come. Defence industries and start-ups of both countries are important partners in this cooperation, the Prime Minister said. “Linking them together is the main objective of our Defence Industrial Roadmap. We have deep and years-old cooperation in space science and technology. Today we have taken a quantum leap in our space cooperation by deciding to enter into the Artemis Accords. In short, for the India-US partnership, even sky is not the limit.”