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Source: The post is based on the article “Innovation Handshake: India and US launch ‘Innovation Handshake’ to deepen bilateral tech ties” published in “Business Standard” on 17th November 2023
Why in the News?
India has signed a memorandum of understanding(MoU) with the US on “Enhancing Innovation Ecosystems through an Innovation Handshake”.
What is an Innovation Handshake?
| Specifications | Details |
| Launched by | India and US |
| Launched under | It is a concept developed under the US-India Commercial Dialogue |
| Aim | To bring the two governments together with venture capitalists, entrepreneurs and industry players. They will have open discussions to explore opportunities and tackle challenges in key sectors highlighted in the US-India Critical and Emerging Technology initiative. |
| Objectives | 1) To connect the two sides’ dynamic startup ecosystems 2)To address specific regulatory hurdles to cooperation 3)To share information and best practices for startup fundraising 4)To promote innovation and job growth, particularly in critical and emerging technologies(CET) |
What is US-India Commercial Dialogue?
Commercial Dialogue(CD) is a dialogue at Ministerial level between India and the U.S.It involves regular government-to-government meetings to be held alongside private sector meetings.
Aim: To facilitate trade and maximize investment opportunities across a broad range of economic sectors.
UPSC Syllabus: International Relations
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