India and US Agree to Strengthen Cooperation in Pharma and More

India Pharma Outlook Team | Saturday, 02 December 2023

 India Pharma Outlook Team

India and the United States have agreed to expand collaboration in areas such as Pharma, semiconductors, vital minerals, and new technology. According to the trade ministry, the two nations also addressed cooperation prospects in green and clean technology, as well as increasing partnerships in key technologies.

These key areas emerged from the discussions during the meeting of Commerce and Industry Minister Piyush Goyal and US Secretary of Commerce Gina Raimondo at a review meeting of the India-US CEO Forum virtually last night, as per PTI.

"As both sides are focused on closer engagement based on trust, following key areas emerged from the discussions -- supply chain cooperation across pharma, semiconductors, critical minerals and energy; collaborative opportunities in green tech and scaling up manufacturing for clean tech; and strengthening partnership in critical and emerging technologies," it said.

Raimondo asked the CEO Forum to harness the present momentum and put the critical proposals given by forum participants into action. She also announced the addition of four new members from the US industry to the forum, including Honeywell, Pfizer, Kyndryl, and Viasat.

N Chandrasekaran, Chairman of Tata Sons, and James Taiclet, President and Chief Executive Officer of Lockheed Martin co-chair the Forum, which includes CEOs from top Indian and US-based firms.

This was the forum's seventh meeting since its reformation in December 2014. It is a crucial advisory private sector group to the India-US Commercial Dialogue, and 27 CEOs from both countries attended.

The next gathering is scheduled for early next year. Goyal pushed the sector to seek collaboration possibilities by using platforms such as the Semiconductor Supply Chain and Innovation Partnership, Innovation Handshake, India-Middle East-Europe Economic Corridor, and Global Biofuels Alliance.

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