CII President statement on PM US visit
PM Narendra Modi’s visit to the US historic - will elevate India-US bilateral ties to even greater heights : CII
Unprecedented Expanse and Depth of Coverage in the outcomes – CII President, R Dinesh
The state visit of the Hon’ble Prime Minister of India, Shri Narendra Modi to the United States of America between June 21-24 on the invitation of H.E Mr. Joseph Biden, President of the United States of America, is set to transform the India-US bilateral relationship and elevate the already existing bilateral ties to even greater heights. The Prime Minister’s exceptionally successful visit also highlights the commitment of the two sides to pursue common goals and address global challenges together and assumes great significance amidst the rapidly changing global economic and geopolitical framework, said a CII Press Release issued here today.
The two leaders covered diverse areas of cooperation including bilateral trade and investments, defence cooperation, technology, semiconductor, clean energy, MSMEs, skill development, cooperation on Indo-Pacific, among others that add new dimensions and infuse greater energy to the India-US strategic partnership. The multiple outcomes present many opportunities for India as well as for the world.
Technology partnership between the India and the USA was a defining feature of the bilateral meetings, as the two countries committed to expanding the bilateral technology partnership further with a focus on greater technology sharing and technology co-development as well as co-production opportunities.
The visit gives a further push to the Initiative on Critical and Emerging Technologies (iCET), which was launched during January 2023 and has gathered momentum since then. As emphasized by the Prime Minister in his departure statement, the iCET is set to widen collaboration across sectors including defence industrial cooperation, space, telecom, quantum & Aritificial Intelligence (AI), telecom and biotech sectors and will add new dimensions to the partnership.
“Hon’ble Prime Minister Shri Narendra Modi’s four-day state visit to the US is the most historic by any Prime Minister – in fact by any global leader, and marks a significant milestone for the India-US partnership. On behalf of CII, I congratulate and thank the Hon’ble Prime Minister on this unprecedented achievement. There is not one but many defining features of the outcomes this time, which is rather unique. Technology partnerships is one of them. iCET – which started in January 2023 has picked up steam and CII had the privilege of being associated with a dialogue recently, which was most productive. Sectors like biotechnology, space, semi conductors, telecom, AI and quantum, defence would get a huge fillip through this arrangement of cooperation. Partnership in space is another defining feature. As also the institunalised framework for trade talks, since the potential for augmeting bilateral trade – including in hi tech areas is huge”, stated Mr. R Dinesh, President, Confederation of Indian Industry, as the Prime Minister left for his two-day state visit to Egypt after concluding his US visit on June 24. “The future focussed cooperation in advanced telecommunication is also going to define this area and would present solutions for an inclusive world. “Trusted Network/Trusted Sources”, is the way to go forward and that is what the two leaders have highlighted” he added.
The CII President also mentioned that since the MSMEs are necessary and good for the supply chains of the future, hence their coverage is good and needed.
In another significant step, the two leaders have acknowledged the profound opportunities and significant risks associated with AI. As CII, we believe this as an area where the US and India can jointly lead the world through collaboration on trustworthy and responsible AI, including generative AI, to advance AI education and workforce initiatives, promote commercial opportunities, and mitigate against discrimination and bias, as the Joint Statement mentioned, the CII press release said.
June 24, 2023
New Delhi