USIBC Launches U.S.-India “Innovation Handshake” Initiative

Near the close of the Asia-Pacific Economic Cooperation Leaders Summit in San Francisco on November 11-17, the U.S. Chamber of Commerce’s India Business Council (USIBC) hosted an inaugural roundtable discussion to launch the “Innovation Handshake” initiative — an industry-driven collaboration between the U.S. and India to promote innovation and foster development of critical and emerging technologies, the U.S. Chamber announced on November 16. The roundtable was led by U.S. Secretary of Commerce Gina Raimondo and Indian Minister of Commerce & Industry Piyush Goyal, with Confederation of Indian Industry Director General Chandrajit Banerjee and U.S. Chamber President and CEO Suzanne P. Clark representing the Indian and American private sectors, respectively. The “Innovation Handshake” concept was announced as a key part of the bilateral summit between U.S. President Joe Biden and Indian Prime Minister Narendra Modi in June 2023. Critical areas of focus include artificial intelligence, quantum computing, defense, semiconductors, space and geospatial technologies, supply chains, telecommunications and clean energy.