India and the US Mutual Beneficiary Partners Favoring the Critical Growth
Both India and the US are undoubtedly the strongest partners, opening up to seamless opportunities in technology, trade, and several other productive arenas.
India, which emerged as one of the nations with a major global population, has undergone a robust economic outgrowth for three decades, where the gross domestic product (GDP) per capita has soared critically by 245 percent. However, the arena is yet to be developed on a global scale as nearly 600 million people in the country live with an average earning of fewer than 3.65 USD daily. This, in turn, has opened up feasible opportunities for potential economic growth and improvements in human welfare in the arena, especially with India emerging as a promising alternative for the US in supply chains, innovation hubs, and joint ventures.
Global nations are devising critical strategies for building national resilience in the technology space, underlining the need to develop collaborations with strategic partners abroad. Wherein, both the US and India are aiming to build a bilateral system of positive technology transfer to succeed in the next stage.
India is highly aiming to establish its role as a global innovator in technology, and thus, Indian organizations are radically focused on scaling and deploying technological innovations. Wherein, a profound collaboration with American companies and encouraging reciprocal cycles of innovation, have facilitated Indian businesses to emerge as genuine technological leaders, developing an original intellectual property with deep wells of talent.
A critical shift in the perception of American organizations is demanded in recent times from outsourcing to radical collaboration, involving engagement of higher-order tasks in the value chain via multinational teams and deeper legal integration. This aids India in expanding its local capabilities in varied arenas like artificial intelligence and healthcare, in addition to decoupling in the technology space. As a result, the United States is reliant upon India, its feasible partner, for reaching potential in the technology space. Owing to its capability to emerge as an increasingly influential economic factor, India assists America to cope with the losses in the trade sector due to the pertaining political conflicts under re-globalization.