Wednesday, March 22, 2023

We see India as a reliable technology partner: US Commerce Secretary – Usky News

NEW DELHI: The US views India as a reliable technology partner, and looks forward to deepening this technological relationship between the two countries, US Commerce Secretary Gina Raimondo said on Friday.
He said that the Government of India has taken several steps in the last few years, which make India an even more attractive place to do business.
Raimondo told reporters here that steps like promotion of digital economy and zero tolerance towards corruption make India a more attractive partner.
She was addressing a joint media briefing with the Commerce and Industry Minister Piyush Goyal Following the conclusion of the Fifth India-USA Commercial Dialogue, which was held after a gap of three years.
“We see India as a reliable technology partner, and we want to continue to deepen our technology relationship with India… We look forward to working more closely with India and the private sector around those technologies. Let’s hope so,” she said.
Besides semiconductors, he said areas where the two countries could enhance cooperation include green technology and all types of hardware in the electronics supply chain.
He said that with members of the Indo-Pacific Economic Framework (IPEF) moving towards finalizing the framework, it would be an incentive for US companies to seek more business in India.
IPEF was launched by the US and other partner countries in the Indo-Pacific region on May 23 last year in Tokyo. The 14 IPEF participants represent 40 percent of global GDP and 28 percent of global goods and services trade.
The framework has been designed around four pillars related to trade, supply chain, clean economy and fair economy (issues like tax and anti-corruption). India has opted out of the trade pillar and decided to feature in the remaining three topics related to supply chain, clean economy and fair economy.
Asked about his meeting with National Security Advisor (NSA) Ajit Doval, Raimondo said: “We talked generally about how we can work to strengthen our mutual national security”. .
He also discussed about software technology to provide vendor diversification in their network.
“We talked about how important it is to have reliable vendors in the network and the opportunity to work with others to achieve that goal,” she said.
About US investment in India, he said: “We are making a number of announcements on behalf of American companies investing in India in a big way”.
India will raise the “intoxicating cadence” of those announcements, he said, which is why so many CEOs from the US are on the tour.


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