US to provide platform to boost innovation in India
25th September 2015Category : PartnershipsPublished by :Aprajita Dixit Reading Time : 3 Minute News Sourced : India
the relation between India and US, US has agreed to launch a forum next year to
boost innovation and related two-way investment and trade. With Prime Minister Narendra Modi's Silicion Valley visit currently on, this announcement is
sure to make his trip a success.
countries will launch a private sector led innovation Forum, which will serve
as an additional avenue through which the two governments seek private sector
feedback and input for bilateral discussion. The Forum will consider a set of
rotating topics to ignite and scale innovation, increase related two-way
investment and trade, support the advancement of small and medium-sized
enterprises (SMEs), and identify where specific skill sets are needed to propel
innovation forward. The Center for Strategic and
International Studies will serve as a convener of the annual Innovation Forum,
and will be supported by a steering committee comprising organizations from both
countries. The Innovation Forum will be memorialized in a broader
Memorandum of Understanding related to innovation and entrepreneurship between
the US and Indian governments.
India and the US also agreed to support the efforts of the Harvard
Business School and the Indian Institute of Management Ahmadabad to develop a
cluster map.This tool will help Indian companies integrate into
global supply chains, strengthen India's economy and better enable American
companies to identify markets for their products and services in India.
The US and India continue to communicate on specific matters related to
international trade, to better understand our respective policies and procedures,
and will seek ways to improve processes.
This launch of platform will help to strengthen relations between both
the countries also it will provide a platform for young, aspiring entrepreneurs
and help them showcase their talent and
innovations to whole world.