U.S.- INDIA BUSINESS COUNCIL (Syllabus: GS Paper 2 – IR)

Context: A U.S.-India Business Council (USIBC) delegation, led by its Executive Vice Chairman, met with the Union Minister in Delhi to discuss various collaboration opportunities.

U.S.- India Business Council (USIBC)

• About: The USIBC represents top global companies operating in the U.S. and India, facilitating connections between businesses and governments in both nations.
• Formation: The U.S.-India Business Council (USIBC) was established in 1975 at the request of the U.S. and Indian governments.
• Aim: The Council seeks to create an inclusive trade environment between India and the U.S. by representing industries, connecting businesses with governments, and fostering long-term partnerships.
• Membership: The USIBC comprises approximately 200 member companies, with 70% based in the United States and 30% in India.
• Headquarters: Washington D.C.
• Regional Offices: The USIBC maintains offices in Delhi, Mumbai, and Bengaluru.
• Association: The USIBC is affiliated with the U.S. Chamber of Commerce.

Key Points of the Meeting

• Green Initiatives: Focus on deploying Greenfield renewable energy, battery storage, and emerging green technologies.
• Advanced Technologies: Emphasis on advancements in quantum technology, artificial intelligence, critical metals, and semiconductors.
• Anusandhan NRF: Proposal for a research foundation in India modeled after the U.S. National Research Foundation.
• Biotech Growth: The biotech industry in India has grown to $140 billion, with over 4,000 companies.
• Space Collaboration: The NISAR mission with NASA and ISRO showcases India's capabilities in the space sector.