The US-India Innovation Handshake, a joint initiative between the US and India, aims to enhance connectivity, integration, access, and inclusivity in innovation ecosystems. Hosted by the US-India Business Council and Confederation of Indian Industry, it aligns with other initiatives.

As per an official statement released the previous day, a joint initiative between the United States and India, driven by industry collaboration, aims to enhance connectivity, integration, access, and inclusivity within innovation ecosystems in both nations.

The second Track 1.5 round of the US-India Innovation Handshake, hosted by the US-India Business Council (USIBC) in partnership with the Confederation of Indian Industry (CII), took place on Wednesday. This initiative, led by industry stakeholders from both countries, promotes innovation and nurtures critical and emerging technologies, as highlighted in the statement.

The handshake aims to facilitate deeper connections, broader integration, and improved accessibility and inclusivity within the innovation ecosystems of the United States and India, spanning academia, research institutions, government, and industry collaborations.

The event was jointly led by Sanjiv, Joint Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT) at the Indian Ministry of Commerce and Industry, and Arun Venkataraman, Assistant Secretary of Commerce for Global Markets at the US Department of Commerce, representing both governments.

According to Alexander Slater, Managing Director of USIBC, the Innovation Handshake represents a novel approach to strengthening the strategic and commercial relationship between the United States and India, collaborating with USIBC, CII, and the corporate sector.

Discussions during the event explored leveraging commercial cooperation in cutting-edge sectors to address common challenges and foster a more inclusive bilateral innovation ecosystem. From utilizing Artificial Intelligence to combat climate change to advancing inclusive development and technological accessibility, companies and startups from both nations are devising innovative solutions to tackle pressing issues.

The Innovation Handshake, introduced under the US-India Commercial Dialogue, was announced as a pivotal component of the bilateral summit between US President Joseph Biden and Prime Minister Narendra Modi during the latter's historic State visit to Washington in June 2023.

Aligned with initiatives such as the Initiative on Critical and Emerging Technology (iCET) and the Defense Acceleration Ecosystem (INDUS X), the Innovation Handshake aims to uphold the leadership of both democracies in critical technological domains globally, encompassing areas such as artificial intelligence, clean energy, cybersecurity, defense supply chains, semiconductors, space and geospatial platforms, telecommunications, and beyond.