The meeting between Guruprasad Sowle, the President of the Indus International Research Foundation (IIRF) U.S, and India’s Prime Minister Shri Narendra Modi held in New York last June 2023 involved discussions on international affairs, Indo-US collaboration, and trade and economy between the two nations. The issues discussed remain very important focal points in the relationship between the two nations.
Key topics of the discussion included exploring collaboration opportunities between small and medium-sized companies in India and the United States, particularly in the manufacturing sector. Guruprasad Sowle, President IIRF U.S. proposed the establishment of a dedicated corridor for collaboration in small and medium segments across all sectors and with a focus on aerospace and defense manufacturing. Additionally, he emphasized the potential for Indian small-to-medium businesses (SMB) to expand into the United States and leverage capital markets, suggesting an increase in trade delegations from the SMB sectors of both countries.
Citing how the COVID-19 pandemic exposed vulnerabilities in the global supply chain, they also discussed the need for enhanced trade, technology transfer, and joint development and manufacturing across key industry sectors that can foster resilient supply chains and drive economic growth for both nations.
With the advancement in defense, aerospace, and technology sectors, India has emerged as a formidable global player. In a bid to stimulate technological innovation within the defense sector, 25 percent of India’s Defense Research and Development budget for 2022-23 has been earmarked for private industry and startups. This initiative has seen the birth of around 194 defense technology startups dedicated to crafting cutting-edge solutions to bolster India’s defense strategy. IIRF U.S. and India believe the two countries can benefit from each other’s investments in technology. Think tanks like IIRF create solutions that are advantageous to the two countries and the world.
About IIRF U.S. The Indus International Research Foundation (IIRF), an international think tank, operates as IIRF U.S., supporting the shared values and interests of the world’s oldest and largest democracies, India and the United States. IIRF U.S. provides independent and scholarly thought leadership on global trends and challenges through collaboration with cultural organizations, research entities, governments, and industry. By focusing on purposeful and conscious innovation, IIRF U.S. aims to address today’s most pressing issues and foster meaningful exchange of ideas.
The core team at IIRF US, comprised of Vice President Sridhar Krishnan, General Secretary Raghu Ganapathy, Mary Louise Luczkowski in charge of Public Relations, and Board Member Col Vijaykant Chenji, have been contributing immensely to this Foundation and believe IIRF US can make a significant difference to the bilateral synergy between India and the United States.
Resources: https://www.ibef.org/industry/defence-manufacturing
For media inquiries, please contact: Mary Louise Luczkowski
Title: IIRF U.S. Board of Directors
Phone number: +1 248-225-3026
Email address usaffairs@indusresearch.in
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