Thumbs up for India-US strategic trade dialogue after Jaishankar- Raimondo meet to boost tech transfers

External Affairs Minister S Jaishankar met with US Secretary of Commerce Gina Raimondo on Thursday and agreed to launch an India-US Strategic Trade Dialogue, led by Foreign Secretary from the Ministry of External Affairs of India and the Under Secretary, Bureau of Industry and Security in the US Department of Commerce.

The Strategic Trade Dialogue will address export controls, explore ways of enhancing high technology commerce, and facilitate technology transfer between the two countries, read the Ministry of External Affairs press release. Raimondo and Jaishankar agreed to launch the US-India Strategic Trade dialogue to address export controls, explore ways of enhancing high technology commerce, and facilitate technology transfer between countries.

Raimondo was on her first visit to India as Secretary Commerce. She met with Jaishankar to discuss US-India relations and opportunities for further economic cooperation.

Raimondo underscored the importance of the US-India bilateral relationship to the Biden Administration and the Department, including ongoing collaboration and potential for closer commercial ties through the US-India CEO Forum (CEO Forum) and the US-India Commercial Dialogue, which she is co-hosting with Minister of Commerce and Industry Piyush Goyal today, read the US Department of Commerce press release.

Both Ministers had a productive discussion about the India-US strategic partnership and ongoing efforts to deepen the economic and commercial engagement between the two countries including through the initiative on Critical and Emerging Technology (iCET) and the Indo-Pacific Economic Framework (IPEF), added the release.

They also concurred on the need for increased bilateral strategic and high technology trade given the shared priorities of both countries in building resilient and trusted global supply chains.

The Secretary thanked the Minister for India’s continued support on the Indo-Pacific Economic Framework for Prosperity (IPEF), and raised the importance of the Framework to enhance the economic competitiveness of the United States, India, and the other IPEF partners, added US Department of Commerce press release.