The 58-paragraph long statement signifies a "new level of trust and understanding" between the two countries. It includes a dozen partnership deals on technology transfers, skill development, trade, and business. The global fight against terrorism has taken a back seat, making way for agreements on technology enhancement and renewable energy. It is worth noting that in the past, the US withheld the technology of mainframe computers from India, forcing the country to develop it independently. However, today, the US and India are moving towards a transfer agreement on "Quantum Information and Science Technology." President Biden has expressed his intention to reduce US barriers on the export of high-performance computing (HPC) technology and source code to India.
This story is from the July 1 - 31, 2023 edition of BUSINESS ECONOMICS.
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This story is from the July 1 - 31, 2023 edition of BUSINESS ECONOMICS.
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