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India, US hold inaugural Strategic Trade Dialogue

IndiaIndia, US hold inaugural Strategic Trade Dialogue

The first meeting of the India-US Strategic Trade Dialogue (IUSSTD) took place in Washington on Tuesday. During the meeting, both parties assessed their ongoing collaboration in international export control regimes and committed to sharing best practices.

Heading the Indian delegation was Foreign Secretary Vinay Mohan Kwatra, while the US delegation was co-led by Alan Estevez, Under Secretary for Industry and Security at the US Department of Commerce, and Ambassador Victoria Nuland, Under Secretary of State for Political Affairs at the US Department of State.

The IUSSTD serves as a crucial mechanism for advancing strategic technology and trade partnerships envisioned under the India-US initiative on Critical and Emerging Technologies (iCET).

According to a statement from the Indian Embassy in Washington, the IUSSTD focused on identifying ways in which both governments can facilitate the development and trade of technologies in critical areas such as semiconductors, space, telecommunications, quantum computing, artificial intelligence, defense, biotechnology, and more.

The meeting encompassed a review of relevant bilateral export control regulations, with the aim of establishing and diversifying resilient supply chains for these strategic technologies. Both parties also examined their ongoing cooperation in multilateral export control regimes and agreed to exchange best practices.

Additionally, they concurred on the importance of increasing awareness among industry players, academia, and other stakeholders regarding export control regulations through workshops and similar initiatives. Recognizing the pivotal role of the dialogue, they acknowledged its potential to facilitate co-production, co-development, and enhanced industrial collaborations in critical technologies.

Moreover, they reached an agreement to establish a regular monitoring group tasked with evaluating progress in deepening cooperation within the bilateral high-tech trade and technology partnership. The co-chairs affirmed their commitment to sustaining the dialogue and strengthening the India-US Comprehensive Global Strategic Partnership, as stated in the embassy’s release.

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