India and the US have launched the Defence Acceleration Ecosystem (Indus-X) programme to expand their strategic technology partnership and bilateral industrial ties, and rolled out an ambitious agenda of cooperation.
“This initiative builds on a commitment by the US and Indian National Security Advisors in January 2023 to launch an ‘Innovation Bridge’ to connect US and Indian defence startups as part of the US-India initiative on Critical and Emerging Technology (iCET)," an official statement said.
Anurag Bajpai, Joint Secretary to the defence ministry, hailed the launch of iCET as a landmark event in India-US relationship, mentioning that this was an opportune moment for this event, as the leaders of the two largest and oldest democracies of the world meet in Washington.
Also Read: PM Modi's US visit may firm up chip supply deal
He emphasised that on the co-development and co-production of advanced technologies by Indian and US startups, asking the participants to develop mechanisms for future collaboration across industries, academia and investors.
Frank Kendall, Secretary of the US Air Force, stated that the India-US relationship is growing exponentially, emphasisng that there is enormous potential for startups of both the nations to collaborate in deeptech innovations, especially in space and artificial intelligence (AI) domain.
“Indus-X will vitalise our defence industrial cooperation and unlock new innovations in technology and manufacturing. Indus-X will create jobs for working families in both countries and promote global peace, security, and prosperity,” the US Department of Defence said in a statement.
Also Read: PM Modi invites Micron to boost semiconductor manufacturing in India
Indian officials affirmed that Indus-X will catalyse innovation and help equip the respective armed forces with the capabilities they need to defend a free and open Indo-Pacific, it said.
Earlier, news agency PTI had quoted India’s Deputy Ambassador to the US Sripriya Rangarajan as saying that the innovation is seen as being meaningful and viable and something that will drive the defence industry partnership across the world in the coming years.
"We believe that the liberalised investment environment in India and the flexibility that we are able to offer in terms of making it possible for American companies to succeed in India will help us to translate this vision into reality,” Rangarajan said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
