![]() ![]() Kumar further said that India has a huge talent pool, and the semiconductor ecosystem is likely to be developed soon. The symbiotic phase of relationship, according to him, holds much significance since it is now aligned with the vision of Atmanirbhar Bharat (self-reliant India) initiative of growing innovation and startup ecosystem in India and increasing US desire to move or diversify supply chain including semiconductors. This phase which started in the decade of 2000 can be called a "friendship phase" and witnessed an increasing deepening of friendship between the two countries, he said, adding that after the recent visit of the Prime Minister, the relationship has ushered into a new symbiotic phase. The bilateral trade between India and the US rose 7.65% to $128.55 in 2022-23 as compared to $119.5 billion in 2021-22, which grew significantly from $80.51 billion in 2020-21. Greater level of trust also led to India accessing more advanced technologies in strategic areas like defence and nuclear with increased strategic trade. ![]() The former official believes that things have evolved by the turn of this century and the US started trusting India for IP development, and eventually development centres and global competency centres have come up in the country. Today, there is an increased interest in co-creation and co-development including in defence equipment, he said, adding that the US-India Initiative on Critical and Emerging Technology (iCET) is one of the initiatives. Now we are partnering and co-developing new technologies." "For the first time, especially after the recent US visit of Prime Minister Narendra Modi, this (between US and India) relationship has become bi-directional. In June this year, Prime Minister Narendra Modi in a strategic state visit met US President Joe Biden to forge a bilateral deal, with the two countries issuing a 58-para joint statement. ![]()
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