Prime Minister Narendra Modi's recent visit to the United States, which took place at a time when the world is confronting critical geopolitical, economic, technological, and climate challenges, marked yet another milestone in the relationship between the world's two largest democracies.
At a time of a swift global shift towards plurilateral approaches, the visit sought to put into action the "bold and audacious" commitments that Prime Minister Modi and U.S. President Joe Biden had made to forge one of the most defining and consequential bilateral relationships of this century.
A Deep Commitment
While the highlight of the visit was the Sixth QUAD Leaders' Summit hosted by President Biden in his hometown of Wilmington, Delaware, bilateral ties received a huge boost from key announcements in areas such as semiconductors, space, advanced telecommunications, artificial intelligence, quantum, biotechnology, and clean energy. These landmark initiatives demonstrate a deep commitment towards realising the ambitious goals of the US-India Comprehensive Global and Strategic Partnership.
The QUAD, a strategic alliance of India, the United States, Australia, and Japan with a commitment towards maintaining a free and an open Indo-Pacific, has evolved into a critical force in implementing tangible initiatives across the Pacific, Southeast Asia, and the Indian Ocean Region. The summit cemented cooperation across various sectors, including maritime security, health, cyber capabilities, climate security, semiconductor supply chains, and disaster preparedness. The launch of the QUAD Investors Network, designed to accelerate investments in critical and emerging technologies, coupled with the inaugural meeting of the QUAD Commerce and Industry ministers in coming months, underscores the vital role businesses are set to play within the Quad.
Chipping In
Most notable, however, is the establishment of the first India-US semiconductor fabrication unit, focusing on advanced sensing, communication, and power electronics. Hailed as the first-ever national security semiconductor fabrication plant, it will produce chips for military applications, not only bolstering the supply chain ecosystem but also further cementing vital India-US defence ties.
The success and expansion of the US-India Defense Industrial Cooperation Roadmap through India's planned procurement of 31 MQ-9B remotely piloted aircraft, enhancing intelligence, surveillance, and reconnaissance capabilities, is another key result of Prime Minister Modi's visit. This, along with the establishment of a Maintenance, Repair, and Overhaul facility for C-130J Super Hercules aircraft, and initiatives like the India-U.S. Defense Acceleration Ecosystem (INDUS-X) underscores the deepening defence partnership between the two nations, essential for addressing current and future global security challenges.
The Initiative on Critical and Emerging Technologies (iCET), launched in 2023 by the two countries, acts as a crucial platform guiding responsible technological development globally and secures our countries' technology supply chains. The recent meeting expanded this strategic cooperation through tangible actions, such as the mobilisation of millions of dollars in funds to support high-impact R&D partnerships between US and Indian universities and research institutions in the areas of semiconductors, next-generation communication systems, biotechnology, sustainability, connected vehicles, and green technologies and intelligent transportation systems and initiatives around advanced materials, quantum, and artificial intelligence.
On Clean Energy
The newly unveiled US-India Roadmap to Build Safe and Secure Global Clean Energy Supply Chains, with a commitment to unlock over $1 billion in multilateral financing, represents another historic opportunity for both nations to lead in renewable energy transition, energy storage, and zero-emission vehicles, while collaborations under the Strategic Clean Energy Partnership to accelerate the development of supply chains for critical minerals reflects a concerted effort towards operationalising this energy partnership.
Industry across both countries has been playing a crucial role in operationalising these initiatives. While Indian companies are seeking access to investments and technologies, American companies already employing millions of Indians are keen to further dip into the vast Indian talent pool and the world's biggest market. Prime Minister Modi emphasised the enormous potential of technological collaboration in his meeting with some of America's top CEOs. This mutual growth can revolutionise the global technology landscape while driving shared India-US prosperity.
Finally, deepening relations with the United States can be central to Prime Minister Modi's vision to make India a developed nation by 2047. A bipartisan understanding of India's importance in the world makes the U.S. an important stakeholder and player in India's growth story. His latest visit not only strengthened the Quad, but also highlighted the alignment between the two nations even as it built new avenues and mechanisms of collaboration among all stakeholders. As India's largest trading partner, the United States will be instrumental in providing the capital, expertise, and market access required for India to climb the global economic ladder.
(Rahul Sharma is the Managing Director at USIBC, and Aditya Kiran Kaushik is the Senior Director, Digital Economy, Media & Entertainment at USIBC.)
Disclaimer: These are the personal opinions of the author
