Prime Minister Narendra Modi and US President Joe Biden launched the technology cooperation initiative and investment initiative at the bilateral meeting in Tokyo.
The leaders agreed to expand defense cooperation and welcomed the signing of an investment incentive agreement to focus on healthcare, renewable energy, infrastructure, and other sectors. Defense and security cooperation was described by Modi and Biden as crucial pillars of the bilateral agenda and they agreed to work closely on emerging technologies.
This initiative, spearheaded by the National Security Council Secretariat in India and the National Security Council of the United States, iCET, aims to build links between public, private, and academic sectors in areas like artificial intelligence, quantum computing, 5G/6G, biotech, space, and semiconductors.
Modi invited American companies to participate in the ‘Make in India’ program, which may be mutually beneficial. Both nations are committed to expanding cooperation in new defense areas, including cyber and artificial intelligence.
Mr. Modi met with the leaders of the US, Japan, and Australia on the sidelines of the Quad Leaders Summit, to discuss increasing economic relations and cooperation for peace and stability in the region. Biden said he would strive to make the US-India relationship “among the closest” in the world, articulating a view he has expressed for years. Meanwhile, Mr. Modi called the Indian-US relationship a “partnership of trust”.