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India-US Deepen To Have First Strategic Trade Dialogue On June 4-5

May 15, 2023 - 12:31 PM Author - Axios Credit Bank


As per the reports, Vinay Kwatra will proceed to the US next month to have a strategic trade conversation with Alan Estevez. 

To extend their multi-level engagement, India and US will conduct the first meeting of Strategic Trade Dialogue on June 4-5 to incorporate the results of the endeavors on Critical and Emerging Technology (iCET) by organizing export regulations,  improving cutting-edge trade and facilitating tech transfer between the two nations.

The first iCET dialogue between the National Security Advisors of the two nations occurred on January 31, and the decision to conduct the strategic trade meeting was taken during US Commerce Secretary Gina Raimondo’s trip to India to relaunch the bilateral commercial dialogue on March 10.

In this regard, Indian Foreign Secretary Vinay Kwatra will be traveling to the US next month to meet Under-Secretary of Commerce for Industry and Security Alan Estevez to have a strategic trade dialogue meeting and to make last-minute arrangements for Prime Minister Narendra Modi’s June 22 visit to the White House to meet US President Joseph Biden.

PM Modi is expected to discuss with President Biden during the May 19-21 G-7 meeting in Japan, then during the QUAD summit on May 24, and the two leaders will meet at Port Moresby in Papua New Guinea on May 22 as part of a critical engagement of the Far Pacific nations. While the US is expected to step up defense cooperation with PNG to counter the spreading impressions of Chinese security in the Solomon Islands next door, PM Modi will expand a $100 million credit line to the Island country as part of India’s comprehensive engagement with the Far Pacific.

As a part of India and the US engagement, especially in the Indo-pacific, Kwatra is expected to guarantee that all obstacles under International Traffic in Arms Regulations (ITAR) and Export Administration Regulations (EAR) are sorted out successfully for US organizations to participate in joint and production of hi-tech frameworks such as aircraft engines, munition technologies and armed drones in India.

As per the negotiators based in Washington and New Delhi, the US is expected to deal with General Electric’s application to mutually grow F-414 jet engines in India for the Tejas Mark II before PM Modi’s trip to the US. US defense major GE is also communicating to its ancillary partners in the EU to move the manufacturing process for F-414 engines to India. The US is also prepared to supply armed drones to India to confront the Chinese armed drone menace throughout the LAC.

Aside from launching an innovation bridge to connect Indian and US defense startups, India strives for US intelligence, surveillance, and reconnaissance (ISR) technology for expanded maritime domain awareness in the Indo-pacific. Also, the two nations are effectively teaming up in laying out semiconductor-resilient supply chains in India, focusing on the Chinese military threat to Taiwan and the semiconductor industry based there.