In a significant development, India and the United States have solidified their partnership to combat climate change and bolster green job creation. During the 21st Indo-US Economic Summit held in New Delhi on September 25, 2024, Jorgan K. Andrews, Deputy Chief of Mission at the US Embassy, emphasized that the collaboration between the two nations is poised to create well-paying green jobs [20a27d05]. This initiative follows a recent discussion between Prime Minister Narendra Modi and President Joe Biden at the QUAD Summit, where they outlined a roadmap for enhancing clean energy supply chains [cc7d14f2].
The $1 billion initiative aims to accelerate the deployment of clean energy technologies and expand manufacturing capacity in sectors such as solar, wind, and energy storage. This commitment is part of a broader strategy to address global clean energy challenges and reflects a growing economic relationship, with total merchandise trade between the two countries reaching nearly $120 billion in fiscal year 2024 [fbef685b][a48def4e].
Andrews highlighted the importance of the upcoming India-US Commercial Dialogue and CEOs Forum, which will be co-chaired by Indian Minister Piyush Goyal and US Secretary Gina Raimondo. This forum is expected to further strengthen economic ties and promote collaboration in various sectors, including the $350 billion services sector, where the US is a key partner for India [20a27d05].
The partnership also builds on the Strategic Clean Energy Partnership established earlier, which emphasizes technical, financial, and policy support for clean energy manufacturing. This initiative is crucial for both nations as they aim to transition to greener economies while enhancing job opportunities [cc7d14f2].
In addition, the iCET initiative launched in 2023 underscores the strategic alignment of both countries in high-tech industries, including semiconductors and artificial intelligence. The signing of a Memorandum of Understanding on Semiconductor Supply Chain in May 2023 and the India-U.S. Defence Industrial Cooperation Roadmap further indicate a commitment to enhancing defense collaboration, showcasing the multifaceted nature of this growing partnership [a48def4e].
Lalit Bhasin, a prominent figure at the summit, expressed confidence in the strength of Indo-US relations, emphasizing that these ties will remain robust regardless of the outcomes of the upcoming US elections [20a27d05].