USIBC hosts US Congressional delegation in Delhi, discuss enhancing bilateral cooperation in defence and… – Lokmat Times
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By ANI | Published: June 21, 2024 04:48 AM2024-06-21T04:48:01+5:302024-06-21T04:50:05+5:30
New Delhi [India], June 21 : The US Chamber of Commerce’s US-India Business Council (USIBC) hosted a closed-door member interaction with the US Congressional delegation led by Representative Michael McCaul in Delhi on Thursday. The discussion focused on enhancing industrial cooperation between India and the US in defence and strategic technologies.
In addition to Chairman McCaul, the bipartisan delegation included former US House of Representatives Speaker Nancy Pelosi, US Representative Mariannette Miller-Meeks. US Representative Gregory Meeks, US Representative Nicole Malliotakis, US Representative Jim McGovern, and US Representative Ami Bera, according to USIBC press release.
In a press release, USIBC on Thursday stated, “The US Chamber of Commerce’s US-India Business Council (USIBC) hosted a closed-door member interaction with a senior delegation from the U.S. House of Representatives led by Representative Michael McCaul (R-TX), Chairman of the House Foreign Affairs Committee, in New Delhi today.”
“The interaction focused on enhancing industrial cooperation between India and the United States in defence and strategic technologies, reflecting the two countries’ common interest in promoting peace and stability in the Indo-Pacific region based on democratic values,” it added.
USIBC’s Delhi-based Managing Director Alexander Slater stated that companies in India and the US play a critical and growing role in strengthening efforts to build a “free, open, prosperous and peaceful Indo-Pacific.”
Slater said, “Today’s meeting between senior US Congressional officials and members of the US-India Business Council shows that closer strategic cooperation between India and the United States enjoys broad-based political support in America.”
“Companies from both countries play a critical and growing role in strengthening official efforts to build a free, open, prosperous and peaceful Indo-Pacific, which is essential to India achieving its development aspirations. Industry drives the innovation, job creation and resilient supply chains needed to sustain these outcomes. USIBC is proud to support this work as an official partner of the two governments across multiple platforms, including the Initiative on Critical and Emerging Technologies and the defense innovation bridge INDUS X,” he added.
On June 18, the US Congressional delegation arrived in India to meet Tibetan Spiritual leader Dalai Lama. The American delegation was received by officials of the Central Tibetan Administration at Kangra Airport.
The US Congressional delegation’s visit came the same week as meetings in New Delhi between US National Security Advisor Jake Sullivan and Indian National Security Advisor Ajit Doval that focused on enhancing bilateral strategic cooperation on critical and emerging technologies, according to USIBC press release.
On June 17, National Security Advisor (NSA) Ajit Doval and his US counterpart Jake Sullivan attended the annual meeting of the initiative on Critical and Emerging Technology (iCET) between the two countries.
The delegation-level talks were held in the national capital. This is the second iCET meeting between the two countries and is being held over two days on June 17 and 18. The first meeting was held in the United States in January last year.
During the meeting, India and the US agreed to closer engagement and cooperation on supply chain, semiconductors and critical minerals. The two nations have launched a new strategic semiconductors partnership to co-develop semiconductor design and manufacturing processes for precision-guided ammunition.
“Launching a new strategic semiconductor partnership between General Atomics and 3rdiTech to co-develop semiconductor design and manufacturing for precision-guided ammunition and other national security-focused electronics platforms,” read the fact sheet issued by the US and India.
Semiconductors, essential for defence, automobiles and telecommunications sectors, have grown into a key geopolitical battleground, with the US, Japan and China investing heavily in developing domestic capabilities.
“Celebrating the conclusion of a joint Semiconductor Readiness Assessment through a partnership between the US Semiconductor Industry Association and the India Electronics Semiconductor Association, which identifies near-term industry opportunities and facilitates longer-term strategic development of complementary semiconductor ecosystems,” the factsheet added.
This engagement with Indian and US investors in the semiconductor industry in India aims to continue building India’s robust semiconductor and information communication technology ecosystem.
Tata Electronics and Taiwan’s Powerchip Semiconductor Manufacturing Corp. (PSMC) will establish India’s first semiconductor fabrication plant (fab) in Dholera, Gujarat. Tata Semiconductor Assembly and Test Pvt Ltd (TSAT) will set up a semiconductor unit in Morigaon, Assam. CG Power, in partnership with Renesas Electronics Corp, Japan, and Stars Microelectronics, Thailand, will establish a semiconductor unit in Sanand, Gujarat.
US and India also aimed to work together to ensure a reliable supply of critical minerals, which are essential for clean energy technologies and other important industries.
“Promoting India’s vital role in the Mineral Security Partnership, including through co-investing in a lithium resource project in South America and a rare earths deposit in Africa, to responsibly and sustainably diversify critical mineral supply chains,” read the fact sheet.
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