Team Blitz India
NEW DELHI: In a move to significantly strengthen commercial opportunities in high-tech sector, India and the US are set to enhance innovation ecosystems through an innovation handshake. The draft memorandum of understanding (MoU) for this venture was approved by the Union Cabinet chaired by PM Modi,
The visit of US Secretary of Commerce Gina Raimondo saw the relaunch of the commercial dialogue between the two countries, which also included a new working group on talent, innovation and inclusive growth (TIIG) under the commercial dialogue. President Biden and PM Modi, had, in June 2023 in a joint statement, welcomed focused efforts to establish an “innovation handshake” that will connect the two sides’ dynamic startup ecosystems, address specific regulatory hurdles to cooperation, and promote innovation and job growth, particularly in critical and emerging technologies (iCET).
To formalise the cooperation and implement the guidance, a G2G MoU has been signed between India and the US on the ‘innovation handshake’ on 14 November, 2023 at San Francisco, USA.
