The U.S.-India Business Council and the Karnataka Innovation And Technology Society (KITS), Government of Karnataka, have formalized a Memorandum of Understanding (MOU) to expand collaboration in key industry sectors with a particular emphasis on information technology, biotechnology and electronics on Wednesday.
The agreement was signed during the India-USA Tech Conclave currently taking place on November 29 and 30 at Bangalore Palace and is the second consecutive year of partnership with the government of Karnataka by BTS.
"The U.S. Chamber of Commerce's U.S.-India Business Council is pleased to announce its official partnership with the Bengaluru Tech Summit (BTS) and its organization of the India-USA Tech Conclave currently taking place on November 29 and 30 at Bangalore Palace. This is the second consecutive year of partnership with the Government of Karnataka on BTS," said the press statement by US-India Business council.
Leaders from the Government of Karnataka, including Minister for Information Technology and Biotechnology, Rural Development and Panchayat Raj Priyank Kharge participated in the Conclave.
Speaking at the event, Minister Kharge said, "The MoU between the Government of Karnataka and USIBC marks a significant step forward in strengthening the economic ties between Karnataka and the United States. As Government of Karnataka, we continuously strive to foster a conducive environment for American companies to establish, operate, and expand their businesses in Karnataka. The MoU emphasizes deepening engagement between the Government of Karnataka and USIBC to identify and address common challenges, facilitate collaboration between industries, and promote Karnataka as an attractive investment destination for American companies."
The release read further, "The Bengaluru Tech Summit serves as a significant global hub fostering partnerships among technology companies, startups, venture capitalists, and research labs. The India-USA Tech Conclave spearheaded by USIBC is a platform that brings together influential leaders from both the government and industry to explore opportunities for increased collaboration, investment and to address policy and regulatory issues that deepen synergies between the Indian and American innovation and creativity ecosystems."
Jacob Gullish, USIBC Executive Director, Digital Economy said, "The formalization of this MOU between USIBC and the Government of Karnataka signifies the role of states in furthering the India-U.S. strategic partnership. The partnership will enhance communication channels between USIBC member companies and their nodal partners through industry workshops and corporate sessions. Furthermore, these sessions will foster dialogue on common challenges, economic policies, and collaborative opportunities in Karnataka."
USIBC, a long-time advocate for a robust U.S.-India space relationship, especially in commercial space, leveraged the India-USA Tech Conclave to further the dialogue on India-U.S. commercial space collaboration. This year's Conclave was focused on critical and emerging technologies, specifically shaping the commercial space frontier and fostering long-term relationships between entrepreneurs and startups. Initiatives between USIBC and the Government of Karnataka in the sectors of information technology, biotechnology, and electronics were also in focus.
Furthermore, USIBC has consistently championed the enhancement of collaborative efforts between the U.S. and India in research and development within India. We are pleased that the India-USA Tech Conclave will continue to discuss the challenges and opportunities related to future innovations in both the technology and healthcare sectors.
U.S.-India Business Council Established in 1975 at the behest of the U.S. and Indian Governments, the U.S.-India Business Council (USIBC) represents hundreds of top global companies operating across the United States, India, and the Indo-Pacific.
Amid dynamic growth within the U.S.-India commercial partnership, we serve as the premier voice of industry and create connections between businesses and governments across both countries. Through our flagship Washington, D.C. and New Delhi offices and presences across both countries, we work with members to identify and advance key policy priorities.
Recognizing that U.S.- India trade is increasingly driven by new business hubs, USIBC is also focused on strengthening connections between cities and states. USIBC's policy expertise and impact is enhanced by being a part of the U.S. Chamber of Commerce, whose thousands of member companies represent the power of free enterprise to enhance the peace, freedom, and security of people in America and around the world, said the release. (ANI)